DBS Bank/POSB, the DBS Foundation and the Cyber Security Agency of Singapore (CSA) have joined efforts to increase consumer awareness and education around digital scams and fraud, as well as improving the bank’s security controls over funds.
This initiative forms part of a nation-wide push to defend against ongoing scams and fraud, as well as the bank’s own internal efforts across self-managed security controls, education, fraud surveillance, authentication, assistance and recover – of which over one million customers have used.
“In today’s dynamic scam environment, digital literacy and anti-scam education go hand in hand. To protect our customers against scams, we want to empower them with the skills and knowledge needed to navigate the digital landscape safely and confidently,” Han Kwee Juan, Acting Chief Information Officer and Singapore Country Head at DBS, said.
“This includes keeping them informed of the latest scam developments and equipping them with a robust suite of security tools to protect themselves. We are glad to be working with like-minded partners like IMDA and CSA to intensify our efforts in scaling anti-scam awareness and education in the community. Together, we strive to keep our customers safe as they enjoy the convenience of going digital.”
The DBS Foundation and the CSA also launched an anti-scam quiz in September last year to bring individuals up to speed with the last scam methods including phishing and other online types, after which 82 per cent of the 3,200 participants felt more confident about banking digitally afterwards. Off the back of this, the foundation will broaden the reach of the quiz to 30,000 people over the next year through its integration into the DBS Foundation X Infocomm Media Development Authority (IMDA) digital literacy workshop curriculum.
“It is important for the community to keep up to date with the latest scam information and the ever-changing tactics of cybercriminals. Cybersecurity is a team effort,” Phua Puay Li, Senior Director (Policy and Corporate Development) of CSA, said.
“We value the collaboration with partners like DBS Foundation to co-develop educational resources for the community, including our seniors, to equip them with the know-how to protect what is valuable to them.”
The collaboration between the DBS Foundation and IMDA was originally penned as part of the national Digital for Life (DfL) movement to drive digital inclusion in Singapore, now a key player in promoting scam education and awareness among consumers. In place for a year, the partnership reached 100,000 beneficiaries and has conducted over 400 digital literacy workshops as of January 2024 for more than 60,000 people.
“IMDA is glad to collaborate with DBS Foundation to train the public in digital skills for staying safe online. The training is based on the Digital Skills for Life skills competencies just launched in January 2024,” Doreen Tan, Assistant Chief Executive (Strategic Planning and Digital Readiness) of IMDA, said.
“These essential digital skills competencies will be helpful to Singaporeans for their daily lives, such as transacting online and staying discerning and responsible online. Together with partners like DBS Foundation under the Digital for Life national movement, we work with the community to mobilise and train the community. Our goal: so that no one is left behind as Singapore digitalises.”