DBS Introduces New 'Mobile Wallets' Security Feature to Further Protect Customers From Phishing Frauds
Payment Controls – located within the DBS/POSB digibank app – allows customers to self-manage their card transaction limits in real-time. Customers can use these controls to protect themselves from unauthorised transactions when their card is misplaced, stolen or misused. This includes disabling e-commerce or cash advance transactions, locking the card, among others.
From mid-May 2025, customers will not be able to add DBS/POSB cards to their mobile wallets until they turn on the new 'Mobile wallets' toggle in Payment Controls. The 'Mobile wallets' feature is turned off by default and customers will need to first turn on the 'Mobile wallets' toggle before adding their cards. Using the 'Mobile wallets' in-app control introduces a deliberate pause in the transaction process, allowing users to verify their intention to add their card to a mobile wallet.
The new 'Mobile wallets' feature is the latest addition to the bank's suite of self-managed security control features in the DBS/POSB digibank app. DBS was the first bank in Singapore to introduce the most comprehensive set of payment controls and has continued to maintain that leading position since 2021. To date, over 1.5 million users have adopted DBS' self-managed security tools that also include DBS' money lock feature (digiVault) and security checkup.
Calvin Ong, DBS Head of Consumer Banking Singapore said, 'Along with the Singapore Police Force (SPF), the Cyber Security Agency of Singapore (CSA) and the Monetary Authority of Singapore (MAS), DBS has also observed a rise in mobile wallet phishing incidents, where scammers target customers' cards to add to their mobile wallet for subsequent unauthorised transactions. As part of the industry's initiative to address this issue, DBS has introduced a new 'Mobile wallets' feature to verify our customers' intention to add their card to a mobile wallet. By introducing the deliberate pause, we enable customers to be alert when performing transactions.'
Customers should add only their own cards to their mobile wallets. If they are unfamiliar with mobile wallets, they should consult their family or call the ScamShield Helpline (1799) for assistance.
'Joint vigilance with our customers is essential to combating scams and we will continue to expand our suite of self-managed security features, as well as anti-scam educational resources and community events, to empower our customers to take control of their security,' added Ong.
SPF, CSA and MAS have been working with banks, mobile wallet providers, and card service providers to combat this trend. According to the Singapore Police Force, there were over 650 reports of phished card credentials being added to mobile wallets in the last three months of 2024, resulting in at least SGD 1.2 million in losses from transactions made on scammers' mobile wallets.
How DBS/POSB's Mobile wallets security feature works
The 'Mobile wallets' feature in Payment Controls is turned off by default to ensure customers' cards cannot be added to mobile wallets. Customers who wish to add their DBS/POSB card must first turn on the 'Mobile wallets' toggle in Payment Controls within the DBS/POSB digibank app. To further protect users, this 'Mobile wallets' feature will be automatically turned off if the card is not added to any mobile wallet within 10 minutes.
DBS enhances the anti-scam security features of its digibank app Greater convenience for DBS digiVault: Since October last year, customers can instantly lock funds and prevent digital transfers from their accounts via the DBS/POSB digibank app, or digibot on the DBS/POSB website. The funds can then be unlocked at over 1,200 ATMs island-wide in addition to the bank's branches. Customers will continue to earn the same interest on their locked savings and fixed deposits. More capabilities for DBS anti-malware tool for Android devices: The digibank app's anti-malware tool for Android devices will alert users when the app is being remotely controlled by another device or when the Android device's USB/wireless debugging setting is enabled. When the USB/wireless debugging setting in the Developer Options is turned on, scammers can remotely control a user's Android device without their knowledge, steal sensitive information such as passwords and access the user's digibank app. Users will also be cautioned by the anti-malware tool when screen-sharing or mirroring is enabled on their Android device.
Creating a robust anti-scam ecosystem with partners and customers
DBS works closely with key partners including the SPF, Infocomm Media Development Authority (IMDA) and the CSA to co-create educational anti-scam content (e.g an anti-scam quiz) and extend its reach to a wider audience through digital literacy roadshows and street performances ('getais') in the heartlands. In 2024, DBS conducted over 300 anti-scam and digital literacy workshops, reaching 90,000 Singaporeans and residents. The bank also launched its new Bank Safely Hub last year to help the public stay informed about scams by featuring essential scam alerts, educational materials and resources.
Since January 2025, DBS has held POSB neighbourhood getai events and POSB SG60 neighbourhood carnivals in Bedok, Eunos, Tiong Bahru and Punggol, where residents were trained to use DBS security tools including Payment Controls, digiVault and security checkup. DBS has plans to continue to roll out these activities this year.
DBS has a multi-layered defence against scams which combines real-time fraud surveillance, advanced security infrastructure and customer education. Furthermore, DBS continues to deploy dedicated personnel who are embedded within the SPF's Anti-Scam Centre, performing real-time transaction monitoring and immediate intervention against suspicious activities.
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