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NETS operates Singapore's national debit scheme enabling customers of DBS Bank, POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank, CIMB and UOB to make payments using their physical/contactless ATM cards or mobile devices at more than 120,000 acceptance points in Singapore including major retailers, food courts, hawker centres, convenience stores and supermarkets.
DBS had failed to maintain relevant and up-to-date due diligence information on the customers’ beneficial ownerships, and to update their risk ratings for money laundering and terrorism financing. The bank also failed to adequately establish the source of wealth of higher-risk customers and their beneficial owners.
Commercial banks in Singapore may undertake universal banking, such as the taking of deposits and the provision of cheque services and lending, as well any other business authorised by the Monetary Authority of Singapore, including financial advisory services, insurance brokering and capital market services, as long as they are permitted under section 30 of the Banking Act.
It is the largest and oldest local bank in continuous operation in Singapore with over four million customers. [ 1 ] Established on 1 January 1877 as the Post Office Savings Bank ( Chinese : 郵政儲蓄銀行 ; pinyin : Yóuzhèngchǔxù Yínháng ), [ 2 ] POSB currently operates as part of DBS Bank after being acquired on 16 November 1998.
DBS Bank (Hong Kong) Limited (Chinese: 星展銀行（香港）有限公司) is a licensed bank incorporated in Hong Kong and is a subsidiary of DBS Bank headquartered in Singapore. As of 2022, it is the eighth-largest bank in Hong Kong by total assets.
Until 1985, subscribers' telephone numbers in Singapore were five and six digits. Five digits were introduced in 1960s, whereas 5-digit and 6-digit phone numbers were introduced in 1960s as fixed lines grew, but in that year, these changed to seven digits as the introduction of new towns arose (Tampines, Jurong East, Bukit Batok, Yishun and Hougang) and a large number of new numbers were required.
As for internet facilities, as of 2009, there are four major internet service providers (ISPs) in Singapore. By February 2009, there were more than 4.8 million broadband users in Singapore. However, due to the small market and possible market collusion, there have been rising concerns that various ISPs' telecommunication infrastructures being ...
Online Business Licensing Service (OBLS) is a one-stop portal for applying for the required Singapore government licences in a single online transaction. The service routes all applications to various government agency for processing. The World Bank has ranked Singapore first in the Ease of Doing Business Index. The OBLS system contributes to ...