MAS: robust security for credit cards here

[SINGAPORE] The Monetary Authority of Singapore (MAS) said there has been no evidence of a breach of payments security among banks in Singapore to date.

In a statement yesterday, it said security measures in place for payment cards in Singapore have been robust by international standards.

MAS was responding to media queries about fraudulent charges made at a Taiwanese merchant, some of which were made using credit cards issued here. This company, according to a Straits Times report last week, was a third-party payment processor for online transactions in Taiwan called Neweb Technologies.