The story can be found here @ http://investor.cnet.com/investor/ne...0103415-0.html

Online hacker raids bank accounts
06/29/02 02:00 PM
Source: Reuters
URL: http://investor.cnet.com/investor/ne...0103415-0.html


SINGAPORE (Reuters) - Singapore's DBS Bank, the banking unit of DBS Group Holdings, says a computer hacker has siphoned money from 21 online bank accounts in amounts ranging from S$200 (73 pounds) to S$4,999 (1,800 pound).

The bank declined to comment on the total amount pilfered but said that all 21 cases happened on June 19, when one of its customers raised the alarm.

"When we checked, we found there were irregular transfers to one account. We became suspicious, and decided to put a stop to it," a DBS spokeswoman said.

Singapore police said on Saturday they had established the identity of the suspect and were looking for him.

Online fund transfers between DBS accounts are capped at S$5000 a day unless customers request otherwise.

The spokeswoman said the hacker was only able to gain access to the funds from other customers because he had his own DBS account.

"The suspect did not hack into our system. He gained illegal access to the affected customers' PCs without their knowledge," the DBS spokeswoman said.

"Customers should play an active role in protecting their own access," she added.

DBS, Southeast Asia's largest bank, has some three million customers and about 370,000 online accounts.