The Monetary Authority of Singapore said in a statement that DBS Bank's online banking service had been suspended for about 10 hours and that the situation was unacceptable. It reiterated that it attached great importance to the reliability of the bank's IT system and had asked DBS to conduct a thorough investigation and submit its findings.

The bureau said that DBS failed to meet the expectations of maintaining the availability of the system and ensuring the rapid recovery of its IT system, and would take corresponding regulatory action after collecting relevant information.