Singapore's MAS delays framework for covering losses linked to scams

clock • 2 min read

In an update published by the Monetary Authority of Singapore (MAS), the regulator has cited "complexities" in its decision to delay the latest milestone in its quest to establish a framework for equitable sharing of losses arising from scams. Previously, in February 2022, the MAS stated that it would publish the framework within three month's time, when it would then be taken to the stage of public consultation on the proposed measures. It stated at the time that work had been ongoing since July 2021 by the Payments Council (set up in 2017 by MAS), to "provide clarity on how losses a...

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