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- MAS
- Media Releases
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- Singapore, 19 January 2022… The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) are introducing a set of additional measures to bolster the security of digital banking, in view of the recent spate of SMS-phishing scams targeting bank customers. 2. MAS expects all financial institutions to have in place robust measures to prevent and detect scams as well as effective incident handling and customer service in the event of a scam. The growing threat of online phishing
- MAS
- Speeches
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- Chairman and members of the MAS Board Distinguished guests Ladies and gentlemen Introduction The Monetary Authority of Singapore (MAS) came into being 50 years ago. It was conceived as a dedicated organisation to carry out the specialised functions of central banking and financial regulation. MAS’ responsibilities have expanded considerably since its inception, but its policy objectives remain the same. Low inflation, in support of sustained economic growth. Healthy official foreign reserves, a sound
- MAS
- Media Releases
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- The CAD and the MAS advise consumers to be mindful of potential risks of digital token and virtual currency-related investment schemes. Singapore, 10 August 2017… The Commercial Affairs Department (CAD) and the Monetary Authority of Singapore (MAS) have observed the emergence of initial coin (or token) offerings (ICOs), and other investment schemes involving digital tokens, in Singapore. Members of the public are advised to exercise due diligence to understand the risks associated with ICOs and investment
- MAS
- Media Releases
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- Singapore, 11 November 2019… The Monetary Authority of Singapore (MAS) has led the successful development of a blockchain-based prototype that enables payments to be carried out in different currencies on the same network. 2 This prototype network, developed by MAS in collaboration with J.P. Morgan and Temasek, has the potential to improve cost efficiencies for businesses. It is currently undergoing industry testing to determine its ability to integrate with commercial blockchain applications.
- MAS
- Consultations
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- Consultation Paper VIEW DOCUMENT Consultation Paper on Security Guidelines For Mobile Banking And Payments (69.3 KB) Security Guidelines for Mobile Banking & Payments DRAFT 15 FEBRUARY 2002 - VERSION 1.1 CONSULTATIVE PAPER SUBJECT TO CHANGE CLOSING DATE FOR COMMENTS 15 MARCH 2002 Enquiry: Tony Chew, Director, Technology Risk Supervision Tel: 2299109 Please email your comments to tonychew@mas.gov.sg -------- Table of Contents 1. INTRODUCTION ........
- MAS
- Guidelines
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- Risk management principles and best practice standards to guide financial institutions in managing technology risk. The guidelines set out risk management principles and best practices to guide financial institutions to establish sound and robust technology risk governance and oversight, as well as maintain IT and cyber resilience. Resources: Response to Public Feedback for Consultation Paper - TRM Guidelines (728.4 KB) Annexes to Response to Public Feedback for Consultation Paper - TRM Guidelines
- MAS
- Parliamentary Replies
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- QUESTIONS NO 1745, 1761 AND 1793 NOTICE PAPERS 1031, 1033 AND 1044 OF 2018 FOR WRITTEN ANSWER Date: For Parliament Sitting on 5 February 2018 Name and Constituency of Member of Parliament Mr Saktiandi Supaat, MP, Bishan-Toa Payoh GRC Question: To ask the Prime Minister in light that cryptocurrency trading via exchanges is banned in China and soon to be banned in South Korea (a) what is Singapore's stand on the possibility of a similar ban here; (b) how is the Ministry dealing with the possibility
- MAS
- Economic Essays
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- By Gerard George and Simon Schillebeeckx This study was published as Special Feature A in the April 2021 Macroeconomic Review. Special Features 1 Special Feature A Digital Sustainability and its Implications for Finance and Climate Change Gerard George & Simon Schillebeeckx1 As the pandemic forced the entire world to a virtual standstill, nature revived a little. The US emitted 10.3% less CO2 in 2020 than in 2019 and other regions similarly experienced emission declines. Depending
- MAS
- Parliamentary Replies
Last revised date:
- Date: For Parliament Sitting on 5 July 2023 Questions: Mr Gerald Giam Yean Song, Aljunied GRC : To ask the Prime Minister (a) in the past year how many fraudulent bank transactions have been made a result of SMS one-time password (OTP) diversions; (b) whether MAS has a timeline for requiring banks to phase out the use of SMS OTPs in favour of other multi-factor authentication (MFA) methods; and (c) whether MAS will require banks to provide customers with the option to stop the use of SMS OTPs in
- MAS
- Media Releases
Last revised date:
- Singapore, 24 January 2019… The Monetary Authority of Singapore (MAS) has warned an initial coin offering (ICO) issuer not to proceed with its securities token offering in Singapore until it can fully comply with regulatory requirements under the Securities and Futures Act (SFA). MAS also reminds consumers to understand the benefits and risks of any product or service before committing to an investment. 2 The issuer had intended to rely on an exemption under the SFA, which allows an issuer to make