Monetary Authority of Singapore - News, Articles & Research

Singapore banks take further step to tackle digital scammers

Singapore's banks are stepping up their defences against scammers, rolling out a host of measures, including an emergency self-service kill switch for customers to suspend their accounts.

02 June 2022

Company announcement/devops

MAS launches 2022 global fintech 'Hackcelerator' on Web 3.0 and green finance

The Monetary Authority of Singapore (MAS) announced today the launch of the 7th edition of the Global FinTech Hackcelerator, with the theme “Accelerating A Greener Digital Future”.

31 May 2022

News/crypto

MAS to test DeFi applications in wholesale funding markets

The Monetary Authority of Singapore is collaborating with JPMorgan, DBS Bank and Marketnode to explore the use of digital assets in tokenization and DeFi.

31 May 2022

News/security

OCBC capital limits raised over flawed response to SMS phishing scams

The Monetary Authority of Singapore (MAS) has imposed an additional capital requirement of approximately S$330 million on OCBC Bank (OCBC), over deficiencies in the bank’s response to a wave of spoofed SMS phishing scams in December 2021.

27 May 2022

Company announcement/startups

Australia and Singapore to deepend fintech collaboration

Australia Treasury and the Monetary Authority of Singapore (MAS) have signed the Australia-Singapore FinTech Bridge Agreement to strengthen cooperation between the FinTech ecosystems of both countries.

13 April 2022

News/regulation

BIS releases 'game-changing' SupTech prototype

The BIS Innovation Hub Singapore Centre and the Monetary Authority of Singapore (MAS) have developed a new prototype platform that integrates regulatory data with articles and news to help identify potential risks to individual banks and the banking system.

31 March 2022

News/crypto

Central banks develop prototypes for cross-border CBDC interoperability

The Bank for International Settlements and the central banks of Australia, Malaysia, Singapore and South Africa have developed two prototypes for a shared platform that could enable international settlements using digital currencies issued by multiple central banks.

22 March 2022

Company announcement/regulation

Singapore approves Paxos for digital payments token services

Paxos, the leading regulated blockchain infrastructure platform, announced it has received in-principle approval from the Monetary Authority of Singapore (MAS), a premier financial regulator in Asia-Pacific, to operate digital payments token services under the Payment Services Act 2019.

10 March 2022

Company announcement/security

MAS to lay down further measures to strengthen response to phishing scams

I am speaking in the capacity as Finance Minister and Deputy Chairman of the Monetary Authority of Singapore (MAS). Today, Minister Josephine Teo, Minister-of-State Desmond Tan and I will address a total of 391 parliamentary questions that have been posed to MAS, MCI, and MHA arising from the recent OCBC phishing scams.

15 February 2022

News/regulation

MAS raises DBS' capital requirement following two-day outage

The Monetary Authority of Singapore has raised capital requirements for DBS Bank by S$930 million following the widespread unavailability of the lender's digital banking services in November.

08 February 2022

News/regulation

Singapore builds software toolkit to help FIs use AI responsibly

The Monetary Authority of Singapore and a host of industry players have released an open-source toolkit to help financial institutions use artificial intelligence ethically and responsibly.

07 February 2022

News/security

Singapore banks act to tackle spate of SMS phishing scams

Banks in Singapore are set to remove clickable links in emails and text messages sent to retail customers after a spate of SMS phishing scams.

21 January 2022