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Monetary Authority of Singapore Response To Letter “Stronger Safeguards Needed For Inter-Bank Transfers” - The Straits Times, 20 June 2025

Date 26/06/2025

We refer to the Forum letter by Chan Cheng Lock (“Stronger safeguards needed for inter-bank transfers”, June 20).

We thank the writer for the suggestion to implement additional safeguards for large transfers. MAS will consider the suggestion as part of efforts to better protect customers against fraudulent or erroneous transfers.

 

Lu Xinyi
Director (Corporate Communications)
Monetary Authority of Singapore