Singapore banks tighten electronic communication scrutiny
Access to chat rooms restricted.
According to a report by Bloomberg, DBS Group Holdings Ltd. (DBS), Southeast Asia’s largest lender, restricted access to chat rooms, while Singapore rivals United Overseas Bank Ltd. (UOB) and Oversea-Chinese Banking Corp. increased scrutiny on electronic communications.
“In line with evolving industry practice, we have restricted access to chat rooms and enhanced our guidelines to further strengthen governance and controls,” DBS said yesterday in an e-mailed statement. UOB said it tightened guidelines and OCBC said it put monitoring protocols in place.
Read full report here.