Under the POV, MAS will draw on data from five banks to build more robust AI/ML models to help identify higher-risk transactions and accounts.
The Monetary Authority of Singapore (MAS) is working with partners including the Government Technology Agency of Singapore and the Singapore Police Force to deploy artificial intelligence and machine learning (AI/ML) tools in the fight against financial crime.
The initiative centres on a Proof-of-Value (POV) aimed at developing pre-emptive scam detection capabilities, says MAS on May 4.
