Protecting Your Confidential Information – Lessons from Data Protection and Employment Perspectives
Introduction The protection of confidential information continues to be a thorny issue for employers. Employees have to be provided access to corporate documents in the course of their work, which frequently include valuable and proprietary information such as client data, trade secrets, sales, marketing, operational, financial or personal data. In the modern context where such […]
MAS Publishes Report on Use of Tokenised Bank Liabilities to Enhance Transaction Banking
On 3 July 2025, the Monetary Authority of Singapore (“MAS“) published a Report on the Use of Tokenised Bank Liabilities for Transaction Banking (“Report“). The Report shows how tokenised bank liabilities, underpinned by shared ledger infrastructures, can enable 24/7 real-time settlement across borders and help optimise liquidity management in transaction banking. The Report highlights two main challenges […]
Singapore Launches New Tools to Help Businesses Protect Data and Deploy AI in a Trusted Ecosystem
Singapore has introduced three new initiatives to create a trusted ecosystem for the safe and responsible deployment of technologies, particularly artificial intelligence (“AI“): (i) the new Global AI Assurance Sandbox; (ii) a new privacy enhancing technology (“PET“) adoption guide; and (iii) the Singapore Standard for Data Protection. These initiatives seek to encourage maximal innovation by […]
Protection from Scams Act in Force from 1 July 2025
The Protection from Scams Act 2025 (“Act“) came into effect on 1 July 2025.The Act enables the Police to better protect targets of ongoing scams by empowering the Police to issue Restriction Orders (“ROs“) to banks to restrict the banking and credit facilities of the scam target(“Individual“). The key features of the Act are set […]
Singapore Payments Network (SPaN) Formed to Streamline Governance of National Payments Schemes
On 25 June 2025, the Monetary Authority of Singapore (“MAS“) and the Association of Banks in Singapore (“ABS“) jointly announced the incorporation of Singapore Payments Network (“SPaN“). Set up by MAS and ABS, SPaN is a not-for-profit company limited by guarantee to drive national payments objectives. SPaN will administer and govern Singapore’s national payment schemes, promote continuous […]
PDPC and CSA Issue Joint Advisory to Organisations against Using NRIC Numbers for Authentication
The Personal Data Protection Commission (“PDPC“) and Cyber Security Agency of Singapore (“CSA“) have issued a joint advisory to advise organisations against using NRIC numbers for authentication. The advisory sets out the following guidance on the use of NRIC numbers: NRIC numbers (full or partial) should not be used as passwords to authenticate a person. […]
Singapore Launches New Global AI Initiatives at ATxSummit 2025
Introduction Singapore stands as a trailblazer in the area of artificial intelligence (“AI“), quickly establishing AI standards, guidelines, and tools to stay ahead of the ever-advancing tides of AI development and deployment. In recognition of the importance of global collaboration in AI, Singapore has also stepped up as a global leader, spearheading efforts in […]
APPA Releases Guide for Organisations Looking to Get Started on Personal Data Anonymisation
The Guide to Getting Started with Anonymisation (“Guide“) was launched at the 63rd Asia Pacific Privacy Authorities (“APPA“) Forum on 11 June 2025. The Guide seeks to help organisations adopt anonymisation practices to safeguard personal data. It provides an overview of basic anonymisation concepts and outlines practical steps for organisations to get started on their anonymisation […]
Regulatory Framework for Virtual Asset Service Providers in line with FATF Enhanced Standards Commences on 30 June 2025
Introduction With effect from 30 June 2025, Part 9 of the Financial Services and Markets Act 2022 (“FSMA“) will take effect to introduce a new class of financial institutions (“FIs“), namely digital token service providers (“DTSPs“). The new DTSP regulatory framework aims to implement the enhanced standards set by the Financial Action Task Force (“FATF“) which […]
Singapore Continues Efforts to Align International AI Governance Frameworks
The rapid rise of artificial intelligence (“AI“) has meant that more countries are establishing their own AI governance frameworks to encourage development while managing the associated risks. However, due to the cross-border nature of AI application, it is important to harmonise the disparate frameworks. In this regard, Singapore is continuing its efforts to align international […]