Guidance
Published Date: 06 December 2019

Guidance to Enhance Operational Controls in Payments and Electronic Funds Transfer Operations

MAS conducted a thematic review on banks’ operational controls in their Payments and Electronic Funds Transfer operations. This guidance sets out the key findings and recommends how banks should implement effective controls to address the operational risks.


Banks should incorporate learning points from the guidance in a risk-based and proportionate manner, giving proper regard to the profile of their business activities. Banks should remain vigilant to the evolving nature and impact of payment fraud risks, as they continue to enhance their risk controls and secure their IT environment.