Equinix has reportedly blamed a contractor, alleging that person "incorrectly sent a signal to close the valves from the chilled water buffer tanks" during a planned system upgrade.

... the two banks had "fallen short" of MAS requirements to ensure critical IT systems are resilient. The authority requires that unscheduled downtime for critical systems affecting bank operations should not exceed four hours within any 12 month period – a limit easily exceeded in this case.

As a result, the MAS has slapped DBS with some hefty punishments – including barring it over the next six months from reducing the size of its branch and ATM network, making any non-essential IT changes, or acquiring new business ventures.