MAS’ Anti-Scam Measures
Ongoing Anti-scam Measures
MAS continues to collaborate with other Government agencies and lead the financial industry to strengthen defences against scams across the entire scam life cycle – from prevention and detection to recovery, customer education and support.
Improved Authentication and Verification
February to July 2025
To make it more difficult for a scammer to provision a customer’s card into his own mobile wallet, MAS worked with the Association of Banks in Singapore (ABS) and member banks to improve methods of authentication and verification. ABS announced that major card issuing banks would be progressively tightening card provisioning processes by requiring additional verification for provisioning of cards into mobile wallets.
Restricting Access to Facilities for Scam Mules
October 2025
Together with industry partners, Singapore Police Force (SPF), MAS, Infocomm Media Development Authority, and Government Technology Agency of Singapore worked to implement new measures against scam mules. Under the framework, scam mules may face restrictions on banking services that could be used to move scam monies (including digital banking, ATM services and card-based transactions). This restricts their access to services that could facilitate yet more scams on fresh victims, to disrupt their operations and protect the public.
Additional Friction for High-Risk Transactions
Ongoing
MAS worked with major retail banks on additional friction for transactions that drain large sums from accounts with significant balances. Banks have also progressively introduced cooling periods for high-risk activities, such as increasing transaction limits or changing contact details, to provide potential victims an opportunity to re-assess their actions.
- ABS media release, published 3 October 2025, on banks to launch enhanced safeguards from 15 October 2025 to better protect accounts from being emptied by scammers
- Joint ABS-MAS response to two letters on delays in banks processing local fund transfers due to anti-scam measures - The Straits Times, 13 October and 4 November 2025
- MAS forum letter response, published 4 November 2025, on intent of cooling-off period for large transactions
Public Education on Investment Scams and Government Officials Impersonation Scams
September 2025
MAS undertook a comprehensive public education effort, in collaboration with SPF and other government agencies, to combat the growing threat of investment scams, and Impersonation of Government Officials scams (GOIS). This included two eight-week publicity campaigns across various platforms, such as radio spots across four languages, HDB digital display panels island-wide, digital ads on websites and social media, and physical outreach events.
Warnings on Scams Variants With a Nexus to the Financial Sector
Ongoing
MAS and SPF issued several joint media advisories to warn the public about scam variants, including scams involving the impersonation of officers from FIs and government agencies like MAS, phishing scams involving the fraudulent provisioning of debit or credit cards into mobile wallets, and scams involving digital manipulation. MAS reminded the public to be vigilant and to adopt precautionary measures against scammers.