Daily Archives: February 9, 2020

MAS Advises Financial Institutions to Adopt Recommended Measures for DORSCON Orange

Singapore, 9 February 2020 Following the raising of the Disease Outbreak Response System Condition (DORSCON) Alert Level from Yellow to Orange, the Monetary Authority of Singapore (MAS) issued an advisory on 7 February 2020 for financial institutions in Singapore to adopt additional measures and precautions. This is the third advisory to financial institutions since January 2020.

2 MAS’ advisory of 7 February 2020 called on financial institutions to adopt the additional recommended measures by the Ministry of Health (MOH) and the Ministry of Manpower, whilst ensuring the following when carrying out their business continuity plans:

a) Continue to maintain effective internal controls across their operations should split team arrangements be implemented;

b) Anticipate and be prepared to manage any increase in demand for certain financial services, such as cash withdrawal or online financial services;

c) Inform customers promptly of the availability of services and operating hours; and

d) Monitor and support staff morale.

Cyber threats and scams alert

3 MAS has also reminded financial institutions that they should remain vigilant on the cyber security front as there have been cases of cyber threat actors taking advantage of the 2019 Novel Coronavirus (2019-nCoV) situation to conduct email scams, phishing and ransomware attacks.

4 MAS has been informed about scammers impersonating MOH contact tracing officials and requesting for financial information from individuals. MOH does not ask for financial information during contact tracing calls, and members of the public are advised to verify the authenticity of the phone calls with the MOH hotline (Tel: 6325 9220) if they have any doubts about the caller’s identity.

5 MAS is closely monitoring the 2019-nCoV situation and remains engaged with financial institutions to ensure that appropriate business continuity plans are in place.

Source: Monetary Authority of Singapore

MAS Advises Financial Institutions to Adopt Recommended Measures for DORSCON Orange

Singapore, 9 February 2020 Following the raising of the Disease Outbreak Response System Condition (DORSCON) Alert Level from Yellow to Orange, the Monetary Authority of Singapore (MAS) issued an advisory on 7 February 2020 for financial institutions in Singapore to adopt additional measures and precautions. This is the third advisory to financial institutions since January 2020.

2 MAS’ advisory of 7 February 2020 called on financial institutions to adopt the additional recommended measures by the Ministry of Health (MOH) and the Ministry of Manpower, whilst ensuring the following when carrying out their business continuity plans:

a) Continue to maintain effective internal controls across their operations should split team arrangements be implemented;

b) Anticipate and be prepared to manage any increase in demand for certain financial services, such as cash withdrawal or online financial services;

c) Inform customers promptly of the availability of services and operating hours; and

d) Monitor and support staff morale.

Cyber threats and scams alert

3 MAS has also reminded financial institutions that they should remain vigilant on the cyber security front as there have been cases of cyber threat actors taking advantage of the 2019 Novel Coronavirus (2019-nCoV) situation to conduct email scams, phishing and ransomware attacks.

4 MAS has been informed about scammers impersonating MOH contact tracing officials and requesting for financial information from individuals. MOH does not ask for financial information during contact tracing calls, and members of the public are advised to verify the authenticity of the phone calls with the MOH hotline (Tel: 6325 9220) if they have any doubts about the caller’s identity.

5 MAS is closely monitoring the 2019-nCoV situation and remains engaged with financial institutions to ensure that appropriate business continuity plans are in place.

Source: Monetary Authority of Singapore

Thailand Mourns Victims of ‘Unprecedented’ Shooting Rampage

Buddhist monks in northeast Thailand, joined by throngs of mourners, burned candles, prayed and chanted Sunday for the victims of the country’s worst mass shooting.

A soldier angered over a financial dispute gunned down pedestrians and bystanders as he sped down a street in an army Humvee Saturday in Nakhon Ratchasima, leaving 29 dead and nearly 60 wounded in his wake. Security forces shot and killed the soldier after a 12-hour standoff inside a shopping mall Sunday.

The victims included a 13-year-old boy riding his motorbike and a young mother driving with her son.

Thai Prime Minister Prayut Chan-O-Cha said he hopes the shooting “is the only one and the last incident, and that it never happens again. No one wants this to happen.” He called such bloodshed in Thailand “unprecedented.”

Officials identified the gunman as Sergeant Major Jakrapanth Thomma. Prayut and police say he was in the middle of a financial dispute with a relative of his commanding officer at an army camp involving the sale of a house.

Jakrapanth gunned down the officer and his relative, stole a load of guns from the camp, and took off in a Humvee, shooting his victims as he sped to the mall, where he continued to fire at people inside and outside the shopping center.

Jakrapanth holed himself up in the Terminal 21 Korat shopping center, an airport-themed mall filled with colorful Lego sculptures, a merry-go-round and huge replicas of landmarks from around the world.

After most mall employees and shoppers were evacuated, a joint police and military team swept the shopping center for Jakrapanth and killed him.

Officials say Jakrapanth was a trained sharpshooter who took special army classes on ambushing the enemy.

Hours before his bloody attack, Jakrapanth went on Facebook to tear into those he called greedy people, saying they cannot spend money in hell and adding that death is inevitable for everyone.

Facebook shut down his page almost immediately.

The death toll surpassed Thailand’s last major attack on civilians, a 2015 bombing at Bangkok’s Erawan Shrine that killed 20.

Source: Voice of America