DBS digital banking disruption in May due to 'human error', prelim probe finds
In May, DBS CEO Piyush Gupta said the committee review would be completed"as a matter of utmost priority" and that DBS would"implement all recommendations expeditiously".DBS digital banking services disrupted for second time in under 2 months; ATMs also affected
The bank will now need to apply a multiplier of 1.8 times to its risk-weighted assets for operational risk, bringing its total additional regulatory capital to approximately S$1.6 billion . MAS' move reflects the"seriousness" with which the authority views the disruptions and their impact on customers, said Mr Tharman.
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