Singapore central bank pilots cross-bank AI to detect scams earlier
( May 4, 2026, 10:16 GMT | Official Statement) -- MLex Summary: The Monetary Authority of Singapore is collaborating with five banks, the Government Technology Agency of Singapore and the Singapore Police Force to test AI and machine learning for pre-emptive scam detection. A proof-of-value pools cross-bank transaction data to improve risk identification, supported by a secure data-sharing framework using hashing and strict access controls. MAS said the initiative could expand to broader datasets and use cases, strengthening industry-wide financial crime prevention.Statement follows....
Prepare for tomorrow’s regulatory change, today
MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.
Know what others in the room don’t, with features including:
- Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
- Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
- Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
- Curated case files bringing together news, analysis and source documents in a single timeline
Experience MLex today with a 14-day free trial.