Singapore’s central bank has convened a new AI‑Driven Cyber and Technology Risk Taskforce aimed at strengthening the nation’s financial sector against emerging threats from frontier artificial intelligence models.
The Monetary Authority of Singapore (MAS) announced the initiative as part of a broader push to enhance collective cyber resilience across banks, payment networks and market infrastructure providers.
The Taskforce brings together representatives from MAS, the Association of Banks in Singapore, DBS, OCBC, UOB, Singapore Exchange, NETS and Banking Computer Services. Members will collaborate on AI‑enabled cybersecurity use cases, share operational insights and run proof‑of‑concept trials to evaluate advanced defensive tools against evolving attack techniques.
Vincent Loy, assistant managing director and CTO at MAS, said frontier AI is increasing the severity and sophistication of cyber threats, requiring urgent and coordinated action. He emphasized that strong collaboration across the financial ecosystem is essential to ensure Singapore’s defenses remain resilient as AI‑enabled risks accelerate.
The Taskforce will continue developing shared approaches, testing new technologies and strengthening sector‑wide readiness as AI‑driven threats evolve.
