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SINGAPORE: The Monetary Authority of Singapore says it is in dialogue with DBS Bank on investigations into the seven-hour outage that disrupted banking and ATM services at DBS and POSB on July 5.
More than 1,000 ATM machines as well as some branch services were affected by the disruption.
DBS had said that the glitch was caused by a botched routine computer repair job.
It is working with its IT vendor IBM to ensure that such lapses do not recur.
Asked about the issue during a news conference on its annual report Thursday, MAS said it will assess the outcome of the investigation before deciding on the appropriate regulatory action to take.
Deputy managing director, Financial Supervision, MAS, Teo Swee Lian said: "It would be premature to say anymore at this stage, we should look at what the investigation come up with, but every one is taking it very seriously, both the bank as well as ourselves.
"When we have a full understanding of what happened and what were the causes, then we would look to see how we could address such gaps."
- CNA/jm
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