MAS Mulls Supervisory Actions Following DBS’ Two-Days Service Disruption


The Financial Authority of Singapore mentioned that it’ll think about applicable supervisory actions after DBS Financial institution conducts an investigation following the disruption of its digital banking companies that lasted for 2 days.

Marcus Lim, Assistant Managing Director at the Monetary Authority of Singapore

Marcus Lim

In accordance with Bloomberg’s report, Marcus Lim, Assistant Managing Director on the Financial Authority of Singapore mentioned in an emailed response,

“It is a severe disruption and MAS expects DBS to conduct a radical investigation to establish the basis causes and implement the mandatory remedial measures.

 

MAS will think about applicable supervisory actions following the investigation.”

 

Tse Koon, DBS’ Singapore Nation Head offered an replace on the twenty fourth November saying that the financial institution has recognized an issue with its entry management servers which brought on the disruption.

He added that the group has been “working around the clock with third-party engineering suppliers to repair the issue and companies have been restored at 2am”.

However the issue nonetheless endured the place many have been nonetheless unable to log in to their accounts.

DBS took to Twitter yesterday to disclaim rumours that the outage was tied to the sale of treasury bonds by Myanmar’s Nationwide Unity Authorities.

 

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