How to protect your cards from mobile wallet scams with DBS

CNA

19 hours ago

You're shopping online when you come across an irresistible deal. The price seems too good to be true – and unfortunately, it is. Without realising it, you've landed on a phishing site. Eager to secure the bargain, you enter your card details to make a payment. Soon after, an SMS message arrives, prompting you to add your card to your mobile wallet such as Apple Pay, Google Pay or Samsung Pay.
Without a second thought, you enter the one-time password (OTP) sent to you. Everything appears normal – until you notice unauthorised transactions on your card.
This scenario is playing out daily for hundreds of Singaporeans, who are falling prey to increasingly sophisticated mobile wallet scams. According to the Singapore Police Force, mobile wallet scammers made off with over S$1.2 million in just three months.
In many of these cases, scammers trick victims into handing over OTPs, allowing them to link stolen card details to mobile wallets. Once the card is added, scammers immediately start making purchases, leaving the victim with fraudulent charges.
As part of its efforts to counter the growing threat of mobile wallet phishing, DBS has introduced a new feature in its digibank app. To add a DBS or POSB card to a mobile wallet, customers must first enable the new Mobile Wallets toggle under the app's Payment Controls section. This toggle is switched off by default to block unauthorised additions and create a deliberate pause so users can verify the transaction before proceeding.
For added security, the toggle can only be enabled for 10 minutes and will automatically switch off after.
Mr Calvin Ong, head of consumer banking at DBS, said that the new feature encourages customers to stay vigilant when managing their digital transactions.
SET MULTIPLE SAFEGUARDS WITH DBS PAYMENT CONTROLS
DBS' digibank app lets customers take charge of their security with just a few taps. With Payment Controls, customers can protect themselves from unauthorised transactions if their card is misplaced, stolen or compromised. They can selectively disable e-commerce, cash advances, contactless payments, overseas in-store transactions or their card's overseas magnetic stripe when needed.
Customers can temporarily lock a card if they suspect phishing activity or misplace their card. They can also set monthly spending limits for themselves and supplementary card holders to minimise risk.
'DBS is the first and only bank in Singapore to introduce comprehensive self-managed security features such as payment controls and security checkup in our digibank app,' said Mr Ong. 'These tools empower customers with multiple layers of protection, giving them greater control over their finances.'
COMBATING SCAMS WITH BUILT-IN COGNITIVE BREAKS
To help customers assess whether their credit card is being legitimately added to a mobile wallet, DBS has also introduced cognitive breaks into the user journey.
These are intentional pauses in the transaction process that prompt users to slow down and review their actions, giving them a moment to consider whether the request is genuine. Cognitive breaks are part of DBS' broader anti-scam strategy, which includes self-managed tools such as customised alerts on the digibank app. Customers can choose to receive notifications for transactions above a specified amount – even as low as S$0.01 (excluding recurring charges like streaming subscriptions).
DBS' ANTI-SCAM DEFENCE IN REAL TIME
Beyond app-based features, DBS deploys real-time fraud surveillance, advanced security infrastructure and works closely with the Singapore Police Force's Anti-Scam Centre through embedded personnel who monitor and act on suspicious transactions in real time. The bank also drives public awareness of scams, while its Bank Safely Hub provides timely scam alerts and tips to help customers stay protected.
'As scams grow more sophisticated, joint vigilance with our customers is essential,' said Mr Ong. 'We will continue to expand our suite of self-managed security features, anti-scam educational resources and community outreach, to empower customers to take control of their own security.'