MAS and ABS Establish Taskforce to Counter AI-Driven Cyber Threats in Financial Sector

MAS and the Association of Banks in Singapore launched the AI-Driven Cyber and Technology Risk Taskforce (ACT) on 28 July 2026, with members including DBS, OCBC, UOB, SGX, NETS and Banking Computer Services, who began collaborating in May 2026. The taskforce will enable industry-wide exchange of AI cybersecurity practices, run proof-of-concept trials of AI-powered defensive tools, and develop sector guidance on detecting, preventing and responding to AI-enabled cyber threats from frontier AI models.

• Establishes the AI-Driven Cyber and Technology Risk Taskforce (ACT) between MAS, ABS and major banks/infrastructure operators
• Taskforce membership includes DBS, OCBC, UOB, SGX, NETS and Banking Computer Services
• Runs proof-of-concept trials to test AI-powered cyber defensive tools
• Will develop sector guidance/standards on detection, prevention and response to AI-enabled cyber threats