Singapore's MAS orders DBS Bank to identify root cause of internet banking disruptions, imposes additional capital requirements.

Singapore's MAS orders DBS Bank to identify root cause of recent internet banking and payment service disruptions, including the May 2 outage, and take effective corrective measures. MAS imposed additional capital requirements of around S$1.6 billion on DBS, effective until the bank demonstrates improved service reliability and ability to manage disruptions.

May 07, 2024
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