The Monetary Authority of Singapore and the Association of Banks in Singapore have established the AI-Driven Cyber and Technology Risk Taskforce, an industry-wide initiative to strengthen the financial sector’s resilience against cyber and technology threats arising from frontier artificial intelligence models. The task force brings together cybersecurity, technology resilience and AI leaders from the authorities, major banks and financial infrastructure providers. The task force will promote industry sharing of AI cybersecurity use cases and engagement with relevant experts. It will also build cyber defence capabilities through knowledge development and proof-of-concept trials of advanced AI-enabled tools, while developing guidance on measures, controls and solutions to detect, prevent and respond to sophisticated AI-enabled threats.
Monetary Authority of Singapore2026-07-28
Monetary Authority of Singapore and Association of Banks in Singapore establish task force on AI-driven cyber risks
The Monetary Authority of Singapore and the Association of Banks in Singapore have established an industry task force to address cyber and technology risks from frontier AI models. It will support information sharing, test AI-enabled defence tools and develop guidance for financial institutions.