Do we have backup if bank breaches occur?

The health data breach (Info on 1.5m SingHealth patients stolen in worst cyber attack; July 21st), although serious, does not affect our daily lives.

What would be more frightening is not just a data breach with stolen or copied data, but an elimination or deletion of customers' current information held by banks, their bank balances and the like.

This will lead to chaos as banking transactions cannot be carried out and everyone, except those using hard cash (which we are trying to reduce as a smart digital nation), will be severely affected.

I am sure some backup must be in place to handle this.

It would be good to hear banks and the Monetary Authority of Singapore give some reassurances on this.

Tan Huang Meng

A version of this article appeared in the print edition of The Straits Times on July 24, 2018, with the headline 'Do we have backup if bank breaches occur?'. Subscribe