Forum: MAS to consider suggestion to better protect large inter-bank transfers
Forum: MAS to consider suggestion to better protect large inter-bank transfers
We refer to the Forum letter by Chan Cheng Lock 'Stronger safeguards needed for inter-bank transfers' (June 20).
We thank the writer for the suggestion to implement additional safeguards for large transfers. The Monetary Authority of Singapore will consider the suggestion as part of efforts to better protect customers against fraudulent or erroneous transfers.
Lu Xinyi
Director (Corporate Communications)
Monetary Authority of Singapore
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