Singapore's central bank convenes AI-Driven Cyber and Technology Risk Taskforce
Insight . Intelligence . Accountability
A new wave of professionals is transforming Governance, Risk, and Compliance from a rigid framework into a dynamic force for trust, innovation, and resilience. Governance, Risk, and Compliance (GRC) has long been associated with boardrooms and bureaucracy—a domain reserved for executives and auditors. But that image is changing fast.
The Monetary Authority of Singapore (MAS) says the industry-wide initiative is intended to strengthen collective cyber and technology resilience in response to the emerging risks posed by frontier artificial intelligence (AI) models.
The Taskforce includes members from MAS, ABS, DBS, OCBC, UOB, Singapore Exchange (SGX), Network for Electronic Transfers (NETS), and Banking Computer Services (BCS).
Members will share AI cybersecurity use cases and experience and conduct proof-of-concept trials to explore and validate advanced AI-enabled tools against the evolving threat landscape.
Vincent Loy, assistant managing director and CTO, MAS, says: “Frontier AI is increasing the severity, scale and sophistication of cyber threats. The financial sector must respond with urgency and through strong collaboration. Through this Taskforce, MAS will work closely with industry partners to strengthen our collective defences and ensure Singapore’s financial sector remains resilient against AI-enabled risks.”
Comments (2)
Your email address will not be published. Required fields are marked with *
Singapore's central bank convenes AI-Driven Cyber and Technology Risk Taskforce
Singapore's central bank is establishing an AI-Driven Cyber and Technology Risk Taskforce in collaboration with the country's leadingg commercial banks and tech companies.
ECB Expands Climate Risk Framework to Corporate Credit Claims
By GRC Report Staff Key Takeaways Collateral Framework Expanded: The European Central Bank will extend climate-related valuation adjustments to certain eligible credit claims owed by non-financial corporations.
FATF's New Fraud Agenda, a Record INTERPOL Sweep, and a Wave of Regulatory Reform
The middle of 2026 has delivered one of the busiest stretches for financial crime prevention professionals in recent memory. The Financial Action Task Force has handed its presidency to the United Kingdom, with fraud at the top of the agenda. INTERPOL has concluded its largest-ever anti-fraud operation, and regulators from Washington to London, Brussels, Stockholm, and Abuja have signalled that supervisory expectations are tightening across every sector.
The Travel Rule's African Frontier
Africa's virtual asset markets are growing faster than our supervisory infrastructure can currently follow. This briefing is written for IGRCFP members, regulators, and compliance officers who need a clear-eyed, technical view of where the Travel Rule stands across our region today — not just which laws have passed, but whether they actually work together across borders. I hope it sharpens the conversation.
When Controls Become Conduct
For two decades, financial institutions have managed conduct risk and operational risk as adjacent but distinct disciplines: one concerned with behaviour and customer outcomes, the other with the failure of processes, people, and systems. This article argues that the distinction is dissolving.
Italian Competition Authority Investigates Microsoft Over Microsoft 365 AI-Linked Price Increase
The Italian Competition Authority has opened an investigation into Microsoft Ireland Operations and Microsoft, arguing that the company may have crossed that line when it increased the price of Microsoft 365 after incorporating its Copilot and Designer artificial intelligence services into the subscription.
No recommended articles found.