MAS issues guidelines on internet banking

SINGAPORE - The Monetary Authority of Singapore has called on banks to address the rising danger of new threats to Internet banking, including attacks by hackers.

This follows a recent case, where a Chinese national hacked into 21 DBS Bank accounts and stole some S$60,000, before fleeing the country.

MAS on Tuesday issued a set of guidelines and standards on online banking.

MAS says that because the Internet is so 'open', the risk of providing online services is higher than, for example, offer

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