IBM took responsibility for a major IT system failure suffered by one of Singapore's largest banks on July 5, saying an employee's error caused the outage. IBM took responsibility for a major IT system failure suffered by one of Singapore’s largest banks on July 5, saying an employee’s error caused the outage.In a statement released Tuesday, IBM said problems started when software monitoring tools detected “instability” within DBS Bank’s storage system. While the storage system remained “fully functional,” IBM employees initiated a recovery process to fix the issue.“Unfortunately, a failure to apply the correct procedure inadvertently caused the service outage,” IBM said, adding that no data was lost.The outage knocked DBS’ IT systems offline for seven hours, leaving customers unable to withdraw money from automatic teller machines. All of the bank’s commercial and consumer banking systems were affected, although no data was lost, the bank said at the time. Much of DBS’ IT systems are managed by IBM under a S$1.2 billion [B] (US$868 million [M]) outsourcing agreement signed in 2002.IBM and DBS are taking steps to prevent a repeat of the July 5 system failure. IBM has “taken steps to enhance training of our personnel related to current procedures and brought in experts from our global team to provide further assistance,” the statement said. In addition, IBM and DBS are taking “additional actions to increase the resiliency and redundancy of this part of DBS’ infrastructure,” it said.A DBS spokeswoman did not immediately reply to an e-mail seeking comment on the IBM statement. Related content news Google Chrome zero-day jumps onto CISA's known vulnerability list A serious security flaw in Google Chrome, which was discovered under active exploitation in the wild, is a new addition to the Cybersecurity and Infrastructure Agency’s Known Exploited vulnerabilities catalog. By Jon Gold Oct 03, 2023 3 mins Zero-day vulnerability brandpost The advantages and risks of large language models in the cloud Understanding the pros and cons of LLMs in the cloud is a step closer to optimized efficiency—but be mindful of security concerns along the way. By Daniel Prizmant, Senior Principal Researcher at Palo Alto Networks Oct 03, 2023 5 mins Cloud Security news Arm patches bugs in Mali GPUs that affect Android phones and Chromebooks The vulnerability with active exploitations allows local non-privileged users to access freed-up memory for staging new attacks. By Shweta Sharma Oct 03, 2023 3 mins Android Security Vulnerabilities news UK businesses face tightening cybersecurity budgets as incidents spike More than a quarter of UK organisations think their cybersecurity budget is inadequate to protect them from growing threats. By Michael Hill Oct 03, 2023 3 mins CSO and CISO Risk Management Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe