08 Jan '12, 11pm

ATM fraud: MAS 'has to work with banks to keep system safe', says Law Minister K. Shanmugam

ATM fraud: MAS 'has to work with banks to keep system safe', says Law Minister K. Shanmugam

Law Minister K. Shanmugam said on Sunday that the Monetary Authority of Singapore (MAS) has to work with banks to keep the banking system in Singapore safe, after a scam hit Singapore's biggest bank, leaving its customers worried about the safety of their money. -- THE BUSINESS TIMES PHOTO: RICHARD CHNG By Robin Chan Law Minister K. Shanmugam said on Sunday that the Monetary Authority of Singapore (MAS) has to work with banks to keep the banking system in Singapore safe, after a scam hit Singapore's biggest bank, leaving its customers worried about the safety of their money. DBS Bank was hit by an ATM fraud that has seen $500,000 stolen from about 400 customers by fraudsters in Malaysia over last week. Asked by reporters on Sunday whether the incident has affected how Singaporeans view the security of ATMs and of banks in Singapore, Mr Shanmugam said: 'People will certainl...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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MAS 'has to work with banks to keep system safe...

straitstimes.com 08 Jan '12, 10pm

MAS 'has to work with banks to keep system safe' LAW Minister K. Shanmugam said yesterday that the Monetary Authority of S...

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