MAS probes case of UOB's unshredded client data

Singapore

THE Monetary Authority of Singapore (MAS) is investigating a case involving UOB, which had its clients' unshredded documents found in a trashbag under a tree at Boat Quay, and said that it will take action against banks that do not safeguard the confidentiality of customer information.

"MAS is currently looking into this matter. MAS expects banks to have in place measures to safeguard the confidentiality of customer information, and will not hesitate to take action against banks which fail to do so," a spokeswoman told The Business Times in response to queries.