Industry News: Cyber

MAS Slaps Additional S$330m Capital Requirement on OCBC Over its Response to SMS Scams

Written by Cybersecurity | May 27, 2022 3:37:23 PM

2022-05-26

The Business Times: THE Monetary Authority of Singapore (MAS) has imposed an additional capital requirement of about S$330 million on OCBC Bank for its deficiencies in responding to a wave of spoofed SMS phishing scams in December 2021.

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