It was a routine morning for bank teller Loo Swee Hong at DBS Plaza Singapura branch – until two men approached her counter.

“Please deposit these into my corporate account,” one of them said, sliding across three $10,000 notes and a $1,000 note.

Ms Loo froze when she saw the $10,000 notes – these bills have not been in circulation since 2014, immediately raising her suspicions. Her concerns deepened when her fingers touched the paper. The texture felt off, and she noticed the print was slightly blurred. Her four decades of experience as a teller told her something was not right.

It was her first time encountering potentially counterfeit notes, but her training kicked in. She knew she had to keep the customer in the bank while verifying the notes.

“I’ll need some time to process and verify these notes,” she explained, maintaining her composure. “Would you mind taking a seat while we complete the necessary checks?”

She pressed the call button to alert her deputy service manager, who inspected the notes at the backhouse. Her suspicions were justified – the notes were indeed counterfeit.

The police was called immediately. When officers arrived and questioned the suspects, it became clear that both the man and his companion were attempting to commit fraud. They discovered two additional counterfeit $10,000 notes in their possession, and took both suspects into police custody.

Thanks to Ms Loo’s vigilance, the bank avoided a $51,000 fraud attempt. A team of well-trained front-line staff is one of many layers in DBS’s comprehensive defence against financial fraud.

Preventing scams by securing the digital banking experience

Staff vigilance aside, DBS has also empowered customers with digital tools to protect themselves from scams.

In 2024, over 1.5 million DBS and POSB customers used a variety of self-managed security features – a three-fold increase from the previous year.

One feature is digiVault, which works like a virtual safe deposit box. It allows customers to lock funds in their existing accounts, effectively preventing unauthorised digital transfers even if scammers gain access to their account.

Customers can easily unlock these funds at over 1,200 DBS and POSB ATMs across Singapore using their ATM ...