Notices
 Last Revised Date: 25 May 2004

Notice 634 Banking Secrecy – Conditions for Outsourcing

Requirements for banks on protecting the confidentiality of customer information in all outsourcing arrangements.

Issued pursuant to:

Banking Act (Cap. 19) Third Schedule Part II paragraph 3

Applies to: Full Bank (Locally Incorporated) , Full Bank (Branch) , Wholesale Bank (Branch) , Wholesale Bank (Locally Incorporated)
View Notice Notice 634 Banking Secrecy – Conditions for Outsourcing (83.1 KB)

This notice applies to all banks. It sets out the conditions for outsourcing operational functions when such functions involve disclosure of customer information, and which will be performed outside Singapore.

Amendment Notes

25 May 2004
MAS Notice 634 (Amendment) 2004 takes effect.
19 Feb 2003
MAS Notice 634 dated 19 February 2003 takes effect.

Resources

MAS Notice 634 Appendix 1: Banking Secrecy Outsourcing Conditions (14.9 KB)