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MAS and Singapore Banks Launch AI Cyber Risk Taskforce to Combat Frontier AI Threats

AI Industry News

2026-07-29 00:25:07

According to the Monetary Authority of Singapore (MAS), on July 29 MAS and the Association of Banks in Singapore (ABS) launched the AI-Driven Cyber and Technology Risk Taskforce (ACT) to strengthen the financial sector's cyber and technology resilience against risks from frontier AI models. The taskforce includes MAS, ABS, DBS, OCBC, UOB, Singapore Exchange (SGX), Network for Electronic Transfers (NETS), and Banking Computer Services (BCS), and has been collaborating since May 2026. The group is conducting proof-of-concept trials with advanced AI-enabled tools and developing guidance on new measures and controls to address cyber threats that frontier AI could rapidly identify, exploit, and automate at scale.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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