MAS flags major AI, quantum computing risks to financial institutions; forms task force to prepare defences

MAS flags major AI, quantum computing risks to financial institutions; forms task force to prepare defences

MAS requires Singapore banks (DBS, OCBC, UOB) to conduct AI-assisted red teaming as frontier AI models accelerate vulnerability discovery. Quantum encryption risk (5–10 years): CIOs must budget crypto-asset migration by 2030 per MAS roadmap.