Singapore: Testing requirements in MAS artificial intelligence model risk management observations for financial institutions
Progress
Current status
adopted
05 Dec 2024 adopted
Scope
Implementers
Singapore
Policy Area
Design and testing standards
Policy Instrument
Testing requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
other service provider
Government Branch
executive
Government Body
other regulatory body
Implementation Level
national
Timeline of events
Adopted MAS artificial intelligence model risk management observations for financial institutions including testing requirements
On 5 December 2024, the Monetary Authority of Singapore published a review of observations on risk management of artificial intelligence models for financial institutions. In particular, AI testing requirements focus on robustness through sensitivit…
SourceEvent type
outline
Action type
adoption
Government branch
executive
Government body
other regulatory body