MAS adds that it will take the “appropriate supervisory actions” on the banks after gathering the necessary facts on the outage.
The Monetary Authority of Singapore (MAS) says it has instructed DBS Bank as well as Citibank N.A., Singapore Branch and Citibank Singapore Limited (Citibank) to conduct a thorough investigation on why they were unable to fully recover their systems within the required timeframe.
Customers from both banks suffered from service disruptions after their primary data centres failed to perform normally on Oct 14. Both DBS and Citibank subsequently activated their back-up data centres.
