DBS says that customers will not be able to access DBS/POSB digibank until they have taken the necessary steps to secure their phones. “As with all the bank’s security features, customers can be assured that the new anti-malware capabilities do not monitor phone activity, nor do they collect or store any personal data,” according to the release.
DBS is rolling out new anti-scam security measures that will prevent the fraudulent logging in of customer’s digibank accounts by restricting access to the app when it detects potential security risks. This is part of the bank’s efforts to enhance customer protection amid fast evolving scam and fraud tactics, according to a release dated Sept 26.
This new tool will restrict access to the banking app if it detects the presence of malware or malicious applications, apps downloaded from unverified app stores (known as sideloaded apps) with accessibility permission enabled, or ongoing screen-sharing/mirroring on the device.
