DBS Bank suffered several unauthorized withdrawals from their customer accounts. They are now introducing additional measures to enhance security.
It is important to have adequate security, but we have to distinguish between good and bad security measures. A good security measure is effective and does not increase the cost significantly or make it inconvenient for customers. A bad measure does the opposite.
The culture in Singapore is "security at all cost" to plan for "the worst case scenario". It is the culture in Singapore to over-react and take excessive measures to "enhance security". This is called our "kiasu" and "kiasi" syndromes. I have seen many examples of bad measures that are costly, and ineffective. The trouble is - all of these measures keep on adding up, and making life quite complicated and stressful.
If you were in charge of implementing the good measures to enhance the security of ATM machines in a bank, what would you do?
It is important to have adequate security, but we have to distinguish between good and bad security measures. A good security measure is effective and does not increase the cost significantly or make it inconvenient for customers. A bad measure does the opposite.
The culture in Singapore is "security at all cost" to plan for "the worst case scenario". It is the culture in Singapore to over-react and take excessive measures to "enhance security". This is called our "kiasu" and "kiasi" syndromes. I have seen many examples of bad measures that are costly, and ineffective. The trouble is - all of these measures keep on adding up, and making life quite complicated and stressful.
If you were in charge of implementing the good measures to enhance the security of ATM machines in a bank, what would you do?
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