SINGAPORE: Some policyholders of Prudential have encountered erroneous deductions from their bank accounts, the Monetary Authority of Singapore (MAS) confirmed on Thursday (May 24).
"Customer accounts of multiple banks were affected. This was not a cyber attack but an operational lapse," said MAS in a media release.
AdvertisementMAS said it has directed Prudential and its payment bank, Standard Charted Bank Singapore to effect the return of customer funds without delay, to keep customers updated, and to investigate the root cause of the incident.
"We take a serious view of such operational lapses and will take follow-up supervisory measures where appropriate.”
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