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MAS orders financial institutions to tighten verification processes in wake of SingHealth cyberattack

SINGAPORE (July 24): The Monetary Authority of Singapore (MAS) has ordered banks and other financial institutions to tighten their customer verification processes.

The circular to all financial institutions comes in the wake of a cyberattack at SingHealth, which saw personal information of 1.5 million individuals – including Prime Minister Lee Hsien Loong – illegally accessed and stolen.

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