MAS sets out how banks and insurers must manage the risks of AI
MAS published Guidelines on Artificial Intelligence Risk Management for financial institutions and set out supervisory expectations on responsible AI adoption on 7 October. In Parliament, Tan Kiat How spoke on managing risks in advanced AI models (CNA), and Josephine Teo said there had been no report of rogue AI agents attacking government agencies (ST).
Banks and insurers already use AI to decide on loans, detect fraud and serve customers. Errors can be costly and hard to explain.
You should be able to get an explanation when an AI-based decision affects you.
Clear expectations let firms use AI with confidence.
Guidelines are not law; enforcement depends on supervision.
Watch how MAS checks compliance in its inspections.
DailyDrop Singapore edition No. 3 · Morning · WED., OCT. 7, 2026