DBS e-banking users cut over to new security system from Sunday
Come Sunday, 300,000 online banking customers of DBS Bank will be cut over to its new online security system involving the use of advanced keypad tokens.
The remaining 900,000 customers will switch over the following Sunday, DBS said today.
Keypad tokens are designed to counter the threat from increasingly sophisticated hacker scams that steal passwords and money.
They generate a random one-time password, good for only one log-in, as an added layer of security. Users enter an account number and transaction amount to get the one-time password in a process called transaction signing.