MAS hits OCBC with additional capital requirement of S$330 million over SMS phishing scam response - CNA

5/26/2022 12:00:00 AM2 years 11 months ago

SINGAPORE: The Monetary Authority of Singapore (MAS) on Thursday (May 26) said it has imposed an additional capital requirement of S$330 million on OCBC Bank due to "deficiencies" in the bank’s handling of SMS phishing scams in December last year. OCBC wi…

SINGAPORE: The Monetary Authority of Singapore (MAS) on Thursday (May 26) said it has imposed an additional capital requirement of S$330 million on OCBC Bank due to "deficiencies" in the banks handli… [+2200 chars]

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