In the wake of the largest ATM fraud in Singapore, all banks are tightening the security of their ATM machines. DBS is looking to send SMS alerts of ATM withdrawals to its card holders. Piyush Gupta, CEO of
OCBC bank, said the bank is implementing an option to switch on or off ATM withdrawals when the card holder visits other countries. The bank will also implement a system of SMS alerts for all local and foreign ATM withdrawals. The bank had already installed anti-skimming devices in all its ATM machines since 2007.
To give additional security, Citibank is also enhancing its Citi Alerts service to include ATM withdrawals. Citibank also provides its customers with information on their last four transactions and account balances via SMS on demand at any time.