Singapore MAS Excludes Investment Scams from Shared Responsibility Framework
Singapore's financial regulator, the Monetary Authority of Singapore (MAS), will not extend its Shared Responsibility Framework to investment scams. This decision comes as investment scams, which involve self-authorised transfers, recorded the highest financial losses in the first half of 2026.
Framework Scope Limited
The Monetary Authority of Singapore (MAS) will not include investment scams within its Shared Responsibility Framework. MAS Deputy Chairman Chee Hong Tat informed Parliament that this framework was designed for phishing scams, which involve unauthorised transactions.
He stated that the same approach is unsuitable for investment scams, where victims themselves authorise the money transfers.
Focus Shifts to Prevention
Investment scams caused the largest financial losses among all scam types during the first half of 2026. However, overall scam cases and total financial losses decreased in 2025 and the first half of this year. Singapore will now concentrate on making it harder for scammers to reach potential victims. The government also aims to give customers more time to reconsider risky transfers.
New Protective Measures
Online messaging platforms must now restrict unsolicited contact from unknown users without recipient consent. These platforms also must warn users about potential scam risks from such interactions. Major retail banks have introduced "cooling periods" for high-risk activities. These include adding new payees, increasing transaction limits, and making large account-draining transfers.
Verification and Accountability
The government will continue public education efforts against investment scams. Individuals must verify if an investment offer comes from an MAS-regulated financial institution. They should contact institutions through official channels before any money transfer. This regulatory stance means greater individual accountability for self-authorised transactions.
Financial institutions must adapt customer protection measures outside the framework, focusing on prevention and education.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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