DBS/POSB is ramping up its efforts to combat scams by extending its digiVault protection to all accounts. This move allows customers to secure their funds digitally, providing an added layer of security against the rising threat of scams while still enjoying competitive interest rates.
Enhanced Security Measures
With the extension of digiVault protection, customers now have the flexibility to choose how they secure their funds. Whether locking up funds in a separate digiVault account or within their existing accounts, DBS/POSB is empowering customers to take control of their financial security. This initiative aligns with the bank’s mission to double the number of customers using self-managed security features over the next year.
Comprehensive Protection
In addition to digiVault, DBS/POSB offers a range of security features designed to enhance account protection. These include the ‘Security Checkup,’ which guides customers through essential security actions, and ‘Payment Controls,’ allowing customers to manage important payment settings.
Easy Access and Peace of Mind
Customers can easily lock up funds in their existing accounts through digibot, accessible via the bank’s digiVault page or digibank online. Once the request is processed, customers receive confirmation via email, providing peace of mind knowing their funds are secure. Accessing locked funds follows the same process as unlocking a separate digiVault account, requiring customers to visit a branch for identity verification.
Educating Customers Against Scams
DBS/POSB recognizes the importance of customer education in combatting scams. Alongside providing robust security features, the bank is intensifying its anti-scam public education efforts. This includes expanding digital literacy workshops and promoting awareness through initiatives like the anti-scam quiz, which aims to reach 30,000 participants by the end of 2024.
Empowering Customers
With digiVault and other security features, DBS/POSB is empowering customers to safeguard their finances in an increasingly digital world. By offering flexible and accessible security solutions, the bank is strengthening collective defense against scams and fraud, ensuring customers can bank with confidence.
