Latest news with #DBS
Straits Times
11 hours ago
- Straits Times
At least $6.7 million lost to government official impersonation scams in June
Sign up now: Get ST's newsletters delivered to your inbox Victims would receive unsolicited calls from scammers impersonating officials from banks or government agencies. SINGAPORE – Victims of government official impersonation scams have lost at least $6.7 million since June, said the police on July 2. Such scams involved physical collection of money or gold bars from victims, said police, adding that at least 80 cases were reported in the month alone. Victims would receive unsolicited calls from scammers impersonating officials from banks, such as DBS and Maybank, financial institutions such as NTUC and UnionPay, or government agencies such as the Immigration and Checkpoints Authority (ICA). The scammers would claim that victims had been involved in fraudulent activities via the following: Making banking or financial transactions Having outstanding premiums associated with a new or expiring insurance policy Having their phone numbers, personal or banking information registered in such activities When victims denied being involved, they would be transferred to another scammer claiming to be a government official such as from the Monetary Authority of Singapore, either local or China police, or the Ministry of Law. Scammers would then accuse victims of being involved in criminal activities – for instance, money laundering – and ask them to withdraw money, purchase gold bars, or declare valuables they owned to be handed over to unknown individuals for 'investigation'. In some cases, victims were instructed to place these items in discreet locations for collection instead. Top stories Swipe. Select. Stay informed. Singapore Singapore and Cambodia to expand collaboration in renewable energy, carbon markets and agri-trade Singapore Ong Beng Seng's court hearing rescheduled one day before he was expected to plead guilty Singapore ByteDance food poisoning: Catering firm convicted after cockroach infestation found on premises Singapore Three hair salons raided in clampdown on touting, vice, drugs in Geylang and Joo Chiat Singapore The romance continues: Former 'Singapore girl', 77, returns to Osaka Expo after 55 years Asia Japan updates 'mega quake' preparedness plan with efforts including constructing embankments Singapore Man on trial for raping drunken woman after offering to drive her and her friend home Singapore 3 weeks' jail for man who touched himself on train, flicked bodily fluid on female passenger Victims would only realise that they had been scammed when the scammers became uncontactable or when they sought verification with the police. 'We would like to remind members of the public to never transfer monies, hand monies or other valuables to any unknown persons or persons whose identity you did not verify,' said the police. 'Never place monies or valuables at a physical location to facilitate subsequent collection.' For more information on scams, members of the public can visit . Overall, victims in Singapore have lost more than $3.4 billion to scams since 2019.
CNBC
2 days ago
- Business
- CNBC
There is momentum for India's stock market to scale further record highs, says DBS
Radhika Rao, Senior Economist at DBS says there's tailwinds for Indian markets to make more gains. She also talks about India's trade talks with the U.S. While being optimistic on the deal itself, Rao says New Delhi will protect its agricultural sector.
Business Times
2 days ago
- Business
- Business Times
DBS returns with weekly S$3 cashback at hawker stalls, heartland shops
[SINGAPORE] Singaporeans can enjoy a S$3 cashback when they spend at hawker stalls, heartland shops and wet markets on Saturdays from Jul 12 to Sep 27. This is a a reboot of the programme that was first launched in August 2023 and lasted till July 2024. DBS on Sunday (Jun 29) said that the move is part of the bank's SG60 benefits to boost customer savings. The initiative allows the first 160,000 people who scan and pay with PayLah! at more than 22,000 participating hawker stalls, heartland shops and wet markets from 8 am to receive the cashback. These merchants will display the PayLah! Scan to Pay sticker and have to be SGQR-code-enabled. Over the next three months, DBS will offer some two million cashback rewards that can be redeemed from purchases in the heartlands via DBS Paylah!. POSB debit and credit card holders can also access S$0.60 and S$6 meal deals at participating food and beverage (F&B) outlets. A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up From Jul 1 to Sep 30, those who use POSB Everyday Cards and PAssion POSB Debit Cards can buy S$0.60 deals at participating F&B outlets, including local favourites such as Old Chang Kee and BreadTalk. Meanwhile, KFC will offer S$6 meal deals. From Aug 1, DBS/POSB cardholders can redeem DBS Points and POSB Daily$ – rewards earned from retail spending – for new DBS Rewards Flexi eVouchers on PayLah!, which can be spent at any merchant with a valid Nets SGQR code. From Aug 1 to Sep 30, DBS cardholders who redeem 6,000 DBS Points in exchange for a S$60 DBS Rewards Flexi eVoucher will receive additional S$60 in cashback. The newly announced cashbacks are part of the bank's year-long benefits for SG60, which first launched in March. Lim Him Chuan, DBS Singapore country head, said: 'The positive reception to our PayLah! weekly cashback initiative has been encouraging… Through our entire suite of support measures, we seek to ease living and business costs, as well as enhance the well-being of our society.' In addition, from September, members of the public can sign up for complimentary sunset sail rides at Marina Bay every Friday evening. There will be free programmes showcasing Singaporean music, poetry and films at the DBS Foundation Outdoor Theatre at the Esplanade over the weekend. Throughout the year, the bank will continue its POSB Support Our Heartlands community engagement efforts, which include scaling digital and financial literacy carnivals and getai roadshows, which aim to educate local neighbourhoods.
Economic Times
3 days ago
- Business
- Economic Times
Rupee ends month and quarter a tad lower, trails most Asian peers
The Indian rupee concluded the month and quarter slightly lower at 85.7550 against the U.S. dollar, underperforming most Asian currencies amid subdued portfolio inflows and a significant external investment deficit. While other Asian currencies have seen substantial gains this year, the rupee has remained relatively stagnant. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Indian rupee slipped on Monday to end the month and quarter slightly lower, trailing most Asian peers amid muted portfolio inflows and weighed down by the country's external investment deficit The currency closed at 85.7550 against the U.S. dollar, down 0.3% on the day and postedmodest losses of 0.2% and 0.3% respectively for the month and quarter, underperforming most Asian peers amid a broad dollar the Indian unit is little changed on the year so far, Asian peers such as the Taiwan dollar and Korean won have risen about nearly 13% and 8% year-to-date, respectively, while the offshore Chinese yuan, a closely tracked peer of the rupee, is up over 2%. India's external investment deficit is among the key reasons cited by analysts behind the rupee's external investment positions of Asian countries have come into focus as investors ramp up hedge against persistent weakness in the dollar, thereby boosting currencies of countries with sizeable investment surpluses, like Korea and dollar index is down over 10% on the year so far, bogged down by worries over U.S. trade and fiscal policies, worries over the future independence of the Federal Reserve and expectations of upcoming cuts to benchmark interest portfolio flows have also been a sore point for the rupee with foreign investors net pulling about $0.5 billion from local stocks and bonds over the April-June the relative underperformance, analysts expect a broadly weaker dollar to support the rupee."We see scope for USD/INR to consolidate in an 84-86 range with a downside bias," DBS said in a note, adding that it would consider lowering USD/INR's forecast if the US Federal Reserve pivots towards a rate cut later this year and sets the stage for more USD the day, traders said that dollar bids from foreign bank and state-run banks weighed on the rupee even as most of its Asian peers logged gains.
Time of India
3 days ago
- Business
- Time of India
Rupee ends month and quarter a tad lower, trails most Asian peers
The Indian rupee concluded the month and quarter slightly lower at 85.7550 against the U.S. dollar, underperforming most Asian currencies amid subdued portfolio inflows and a significant external investment deficit. While other Asian currencies have seen substantial gains this year, the rupee has remained relatively stagnant. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Indian rupee slipped on Monday to end the month and quarter slightly lower, trailing most Asian peers amid muted portfolio inflows and weighed down by the country's external investment deficit The currency closed at 85.7550 against the U.S. dollar, down 0.3% on the day and postedmodest losses of 0.2% and 0.3% respectively for the month and quarter, underperforming most Asian peers amid a broad dollar the Indian unit is little changed on the year so far, Asian peers such as the Taiwan dollar and Korean won have risen about nearly 13% and 8% year-to-date, respectively, while the offshore Chinese yuan, a closely tracked peer of the rupee, is up over 2%. India's external investment deficit is among the key reasons cited by analysts behind the rupee's external investment positions of Asian countries have come into focus as investors ramp up hedge against persistent weakness in the dollar, thereby boosting currencies of countries with sizeable investment surpluses, like Korea and dollar index is down over 10% on the year so far, bogged down by worries over U.S. trade and fiscal policies, worries over the future independence of the Federal Reserve and expectations of upcoming cuts to benchmark interest portfolio flows have also been a sore point for the rupee with foreign investors net pulling about $0.5 billion from local stocks and bonds over the April-June the relative underperformance, analysts expect a broadly weaker dollar to support the rupee."We see scope for USD/INR to consolidate in an 84-86 range with a downside bias," DBS said in a note, adding that it would consider lowering USD/INR's forecast if the US Federal Reserve pivots towards a rate cut later this year and sets the stage for more USD the day, traders said that dollar bids from foreign bank and state-run banks weighed on the rupee even as most of its Asian peers logged gains.
