S'pore banks have robust data backup

We thank Mr Tan Huang Meng for his letter (Do we have backup if bank breaches occur?; July 24).

Let me assure Mr Tan that banks in Singapore have robust processes to back up their data as part of their business continuity plans.

They regularly test and validate their business continuity to ensure that all critical banking services can be recovered swiftly in a disruption, including when customer information is deleted or corrupted.

The Monetary Authority of Singapore (MAS) requires all banks operating in Singapore to recover their critical systems within four hours following any disruption.

The MAS also expects banks to have a comprehensive data backup strategy for the storage of critical information.

The MAS takes seriously the security, resilience and availability of our banking infrastructure and works closely with the industry to ensure that it remains so.

Jerome Lee (Mr)

Director (Corporate Communications)

Monetary Authority of Singapore

A version of this article appeared in the print edition of The Straits Times on July 27, 2018, with the headline 'S'pore banks have robust data backup'. Subscribe