Should MAS fined them $Millions this time? NBCB...
https://www.channelnewsasia.com/sin...ices-down-users-payment-paylah-paynow-4308641
Screenshot of an error message seen on DBS' iBanking mobile app.
02 May 2024 06:35PM(Updated: 02 May 2024 06:45PM)
SINGAPORE: DBS and POSB internet banking and payment services were down for some users on Thursday (May 2).
In a notice to users on its mobile app, DBS said: "Access to digital services is currently unavailable. We are resolving the issue and will update as soon as services are recovered.
"Thank you for your patience and understanding."
In another error message, it wrote: "We appreciate your patience and understanding. We are experiencing heavy traffic to our services.
"You will be redirected shortly. Alternatively, please login later."
Downdetector showed that users began reporting disruptions with DBS internet banking services at about 5.45pm.
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A graph from the Downdetector site shows DBS outages on May 2, 2024.
Users commented on the bank's latest Facebook post about the latest outages.
In the first of these comments at about 5.58pm, a user said: "Your iBanking is down pls fix it!"
Customers reported being unable to access services on the DBS' mobile app and website platforms. Another user reported that he could "log in but can't make any transfer".
CNA has contacted DBS for more information.
On Tuesday, the Monetary Authority of Singapore (MAS) said that it would not seek to extend the six-month pause on non-essential activities that it imposed on DBS after the bank's multiple service disruptions in 2023.
MAS added that it will retain the multiplier of 1.8 times for DBS' risk-weighted assets for operational risk until the bank "has demonstrated the ability to maintain service availability and reliability, and handle any disruptions effectively".
The penalty was imposed in May 2023, up from the 1.5 times that was implemented in February 2022.
The authority noted on Tuesday that DBS has since made "substantive progress" to address the shortcomings identified from the service disruptions last year, even as efforts to implement its remediation plan are ongoing.
MAS said it would closely monitor the bank's progress and the effectiveness of the measures.
"In the event of service disruptions, MAS expects DBS to promptly recover its services and communicate to its customers in a clear and timely manner," it said.
DBS said on Tuesday that being able to resume its activities "will not dilute its focus on strengthening technology resiliency and enhancing digital service availability".
This is a developing story. Refresh for updates.
Source: CNA/nh(mi)
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https://www.channelnewsasia.com/sin...ices-down-users-payment-paylah-paynow-4308641
DBS, POSB internet banking services down for some users
Some users reported that they were not able to use PayLah! or PayNow payment services.
Screenshot of an error message seen on DBS' iBanking mobile app.
02 May 2024 06:35PM(Updated: 02 May 2024 06:45PM)
SINGAPORE: DBS and POSB internet banking and payment services were down for some users on Thursday (May 2).
In a notice to users on its mobile app, DBS said: "Access to digital services is currently unavailable. We are resolving the issue and will update as soon as services are recovered.
"Thank you for your patience and understanding."
In another error message, it wrote: "We appreciate your patience and understanding. We are experiencing heavy traffic to our services.
"You will be redirected shortly. Alternatively, please login later."
Downdetector showed that users began reporting disruptions with DBS internet banking services at about 5.45pm.
Users commented on the bank's latest Facebook post about the latest outages.
In the first of these comments at about 5.58pm, a user said: "Your iBanking is down pls fix it!"
Customers reported being unable to access services on the DBS' mobile app and website platforms. Another user reported that he could "log in but can't make any transfer".
CNA has contacted DBS for more information.
On Tuesday, the Monetary Authority of Singapore (MAS) said that it would not seek to extend the six-month pause on non-essential activities that it imposed on DBS after the bank's multiple service disruptions in 2023.
MAS added that it will retain the multiplier of 1.8 times for DBS' risk-weighted assets for operational risk until the bank "has demonstrated the ability to maintain service availability and reliability, and handle any disruptions effectively".
The penalty was imposed in May 2023, up from the 1.5 times that was implemented in February 2022.
The authority noted on Tuesday that DBS has since made "substantive progress" to address the shortcomings identified from the service disruptions last year, even as efforts to implement its remediation plan are ongoing.
MAS said it would closely monitor the bank's progress and the effectiveness of the measures.
"In the event of service disruptions, MAS expects DBS to promptly recover its services and communicate to its customers in a clear and timely manner," it said.
DBS said on Tuesday that being able to resume its activities "will not dilute its focus on strengthening technology resiliency and enhancing digital service availability".
This is a developing story. Refresh for updates.
Source: CNA/nh(mi)
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