2 Malaysians arrested as DBS pays out S$1m to 696 customers in ATM scam

DBS Bank has paid out about S$1 million in compensation for the fraudulent withdrawals involving its ATMs, as the police announced the arrest of two Malaysian men, aged 27 and 39, believed to be members of a transnational ATM skimming syndicate.

Investigations are in progress to determine if the two men were involved in the DBS ATM skimming cases reported in the Bugis area recently, the police said in a statement.

During the operation, the police also seized an assortment of paraphernalia used for ATM skimming, including a customised panel with a pin-hole camera and a simulated Foreign Device Inhibitor (FDI) believed to have been fitted with a card skimming device, when they raided a hotel at Geylang Lorong 22.

The two men are on social visit passes, and will be charged in court today for possessing equipment for making a false instrument with intent to induce prejudice under Section 473B of the Penal Code, which is punishable with imprisonment of up to 10 years, or a fine, or with both.

ORIGINAL SOURCE
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