MAS BOT cybersecurity MoU targets digital fraud risks
Singapore and Thailand’s central banks signed a cyber cooperation pact covering threat intelligence, training and crisis exercises.
By Rafael Ortiz · Fintech Correspondent
· 3 min read
The MAS BOT cybersecurity MoU creates a formal framework for Singapore and Thailand’s central banks to work together on cyber resilience and digital fraud protection in their financial sectors. The Monetary Authority of Singapore and the Bank of Thailand said the agreement covers information sharing, skills development and cross-border crisis preparation as financial systems become more digitally connected.
The memorandum was signed by MAS managing director Chia Der Jiun and BOT governor Vitai Ratanakorn during Ratanakorn’s visit to Singapore for the 31st Executives’ Meeting of East Asia-Pacific Central Banks Governors’ Meeting, held from July 22 to July 24, 2026.
According to MAS and BOT, the agreement builds on cooperation already under way between the two authorities. It is intended to broaden coordination between regulators as cyber attacks and digital fraud become more complex and more likely to cross national borders.
What does the MAS BOT cybersecurity MoU cover?
The MoU sets out three areas of cooperation: sharing information on cyber and fraud risks, building institutional capability, and preparing for operational disruption. A memorandum of understanding is a formal statement of intent between institutions. It does not itself create a new market rule, but it can define how agencies will exchange information and coordinate activity.
On information sharing, the two central banks said they will exchange regulatory and incident updates as well as threat intelligence affecting the financial sector. Such exchanges can help supervisors identify patterns in fraud attempts, malicious activity or operational vulnerabilities that may affect institutions in more than one jurisdiction.
The competency-building element includes joint activities such as staff training, study visits and the exchange of research and policy analysis. MAS and BOT said the aim is to deepen technical cooperation between their teams.
The operational preparedness component covers joint cross-border cybersecurity and crisis management exercises. These exercises are designed to test how authorities and institutions respond when a cyber incident or fraud event affects financial operations across borders.
Why Singapore and Thailand are tightening cyber cooperation
Chia said cyber risks and digital fraud are transnational threats for the region and require closer cooperation. He said the MoU would support a stronger partnership between MAS and BOT and reflected a shared commitment to protecting trust and resilience in the financial systems they oversee.
Ratanakorn said cyber threats and fraud are changing quickly against a backdrop of greater financial connectivity and technological development. He said closer collaboration between the two authorities would strengthen their capabilities and support cross-border intelligence exchange against emerging threats.
The agreement comes as central banks and financial regulators place greater emphasis on operational resilience, a policy area concerned with keeping critical financial services functioning during technology failures, cyber incidents or other disruptions. For banks, payment firms and fintech companies, cross-border regulatory coordination can shape expectations around incident reporting, cyber testing and fraud controls.
MAS and BOT described the MoU as a step toward sustained cooperation between the two organisations. The authorities did not announce new binding rules, enforcement measures or funding tied to the agreement.
This story draws on original reporting from Finextra Research.
