#455 - DBS Not Allowed to Make New Acquisitions & Watch Taylor Swift Concert With a Minister?

As part of the penalties for the recent outage of DBS’ digital services, MAS will disallow DBS from making new acquisitions for 6 months. Will this really help restore confidence in the bank? Elsewhere, it was first reported that a lucky Swiftie between the age of 13-35 will be selected to watch Taylor Swift in concert alongside Senior Minister of State Mr Tan Kiat How, as part of a youth festival competition. However, the promotion was hastily amended on Friday morning to remove the minister’s presence at the concert. Why the sudden about-turn?

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DBS Not Allowed to Make New Acquisitions

• MAS suspends DBS from new business ventures, reducing branch and ATM networks over disruptions | The Straits Times
• DBS apologises for series of digital disruptions; lays out comprehensive roadmap to improve technology resiliency
• MAS penalties on DBS won’t set the bank back, analysts say
• Singapore Directs DBS (SGX: D05) to Halt Acquisitions on Outage Fallout
• DBS chairman, CEO apologise for service disruption; special committee set up to investigate outage
• The Big Read: With no foolproof way to prevent banking and e-payment outages, what can businesses and consumers do?

Watch Taylor Swift Concert With a Minister?

• Youth festival in Bedok to give away a Taylor Swift concert ticket to winner

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