DBS down again 2 May 2024

[vsvs24]

https://www.straitstimes.com/singapore/dbsposb-digital-banking-services-down-for-some-customers

Some users of DBS/POSB’s digital services have reported difficulties accessing Singapore’s biggest bank’s services since about 5.40pm.

This includes logging into their bank accounts on their apps and using PayLah!.

The Downdetector website, which tracks service disruptions, recorded a total of more than 2,200 reports from users who had issues with DBS and POSB’s services at about 6.10pm.

This comes two days after the Monetary Authority of Singapore said it will lift restrictions on the bank’s non-essential banking activities, which had been imposed in response to disruptions to the bank’s services in 2023.

The Straits Times has contacted DBS Bank and the Monetary Authority of Singapore for comment.

 

[vsvs24]

https://downdetector.sg/status/dbs/

1814 cases reported now

 

[vsvs24]

https://www.channelnewsasia.com/sin...=internal_sharetool_androidphone_02052024_cna

 

[sohguanh]

It is not new isn't it? After sometime customers just get used to it. MAS can fine them so? They are rich not scared unless the fine is significant enough for them to buck up. Maybe they retract their dividends to pay off fine hahaha

 

[vsvs24]

It is not new isn't it? After sometime customers just get used to it. MAS can fine them so? They are rich not scared unless the fine is significant enough for them to buck up. Maybe they retract their dividends to pay off fine hahaha

It is time to make them pay a fine.

MAS just said 2 days ago that " the bank had made “substantive progress to address the shortcomings identified from service disruptions experienced by its customers in 2023”.

 

[testingabc]

waiting for DBS stock to drop nao so that I can buy~

 

[Garlic & Butter]

regular login to iBanking: hardware token or SMS only. no app notification.

adding new payees now require using hardware token to key in OTP, app push notification not working.

 

[vsvs24]

regular login to iBanking: hardware token or SMS only. no app notification.

adding new payees now require using hardware token to key in OTP, app push notification not working.

Huh ? I thought DBS say restored at 8pm ? So not everything back to normal ?

https://www.straitstimes.com/singap...-restored-after-outage-lasting-nearly-3-hours

 

[swathe]

As long as MAS did not really penalize DBS, they will not care.

 

[vsvs24]

As long as MAS did not really penalize DBS, they will not care.

That's why I feel they were let off too leniently each time.

Time to fine them.

IMDA fine the telcos so much each time. But MAS so lenient to the banks.

Still can make record profits and pay out high dividends. The banks don't feel it at all.

 

[wira]

waiting for DBS stock to drop nao so that I can buy~

seems no impact to share price ....

 

[randomph]

When will MAS really penalise hmmm

 

[reddevil0728]

When will MAS really penalise hmmm

technically they have been. diff perspective on what constitute penalty to different stakeholders

 

[sglandscape]

technically they have been. diff perspective on what constitute penalty to different stakeholders

it's also difficult for the regulator, can't be overly harsh and lead to the wrong outcome but cannot be too lenient such that it only is a slap on the wrist.

 

[reddevil0728]

MAS scam consult = "shared responsibility framework"

https://www.mas.gov.sg/news/media-r...d-responsibility-framework-for-phishing-scams


MAS dun dare to open a consult to ask ppl how to deal with DBS outage ?
what do they think ppl will say ?

Because there’s no equivalency

 

[yuppieboy]

As long as MAS did not really penalize DBS, they will not care.

Will MAS penalized DBS? I did a Google and realised that MAS has recently taken a loan of $30 Billions from DBS. Is there any conflict of interests?

 

[reddevil0728]

Will MAS penalized DBS? I did a Google and realised that MAS has recently taken a loan of $30 Billions from DBS. Is there any conflict of interests?

But this is not unique to DBS or even Singapore no?

that’s what central bank is for right?

 

[sglandscape]

Will MAS penalized DBS? I did a Google and realised that MAS has recently taken a loan of $30 Billions from DBS. Is there any conflict of interests?

This is not how it works. Please read up on how MAS conducts monetary policy.

 

[sohguanh]

Will MAS penalized DBS? I did a Google and realised that MAS has recently taken a loan of $30 Billions from DBS. Is there any conflict of interests?

Last outage MAS instead of fine raise the capital requirements for DBS. Those monies are locked so as to speak. But this is lenient becuz if fine them monies go out whereas locked can be unlocked if behaviour good.

So this time round just repeat same pattern lor raise the capital requirements again. Take note with this approach it means if later OCBC or UOB same outage MAS cannot big small eye fine them but must use raise capital requirements approach.

 

[reddevil0728]

Last outage MAS instead of fine raise the capital requirements for DBS. Those monies are locked so as to speak. But this is lenient becuz if fine them monies go out whereas locked can be unlocked if behaviour good.

So this time round just repeat same pattern lor raise the capital requirements again. Take note with this approach it means if later OCBC or UOB same outage MAS cannot big small eye fine them but must use raise capital requirements approach.

eh net net effect can be the same cause if dun lock the money can loan it out. can earn back the fine.