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MAS urges FIs to tighten customer verification process following SingHealth cyber attack

The Monetary Authority of Singapore (MAS) is urging all financial institutions to tighten their customer verification processes and conduct a risk assessment on their existing control measures for financial services, following a cyber attack on Singapore’s largest group of healthcare institutions. The patient database of SingHealth — a collection of hospitals, specialty centres, and clinics — was hacked, and between…

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