Global: MAS, Bank of Thailand sign cybersecurity MoU to strengthen financial sector resilience

The Monetary Authority of Singapore (MAS) and the Bank of Thailand (BOT) have signed a memorandum of understanding (MoU) to strengthen cybersecurity cooperation and combat digital fraud across their respective financial sectors.

The agreement formalises and expands ongoing collaboration between the two regulators as cyber threats and digital fraud become increasingly sophisticated across an interconnected financial ecosystem.

The MoU was signed by MAS Managing Director Chia Der Jiun and BOT Governor Vitai Ratanakorn during Mr Ratanakorn’s visit to Singapore for the 31st Executives’ Meeting of East Asia-Pacific (EMEAP) Central Banks Governors’ Meeting, held from 22 to 24 July 2026.

The agreement establishes a framework for closer regulatory coordination in key areas, including cybersecurity, digital fraud, capacity development and operational preparedness.

Under the MoU, MAS and BOT will cooperate through:

• Information sharing on cybersecurity and digital fraud: The regulators will exchange regulatory and incident updates, as well as threat intelligence relating to risks affecting the financial sector. This is expected to strengthen regulatory monitoring and support more effective risk assessment and financial crime prevention.
• Competency building: Both authorities will undertake joint activities, including staff training, study visits and exchanges of research and policy insights, aimed at strengthening technical capabilities and deepening regulatory collaboration.
• Operational preparedness: MAS and BOT will conduct joint cross-border cybersecurity and crisis management exercises to strengthen institutional readiness and improve responses to potential disruptions.

Chia said closer cooperation was necessary as cyber risks and digital fraud increasingly emerge as transnational threats across the region.

“Cyber risks and digital fraud are key transnational threats confronting our region and calls for closer collaboration to combat these risks. This MoU will facilitate such enhanced partnership and collaboration between MAS and BOT, reflecting our shared commitment to safeguarding trust and resilience in our financial systems,” he said.

Ratanakorn said evolving cyber threats, greater financial connectivity and rapid technological advancement have increased the need for stronger cooperation between financial regulators.

He said the partnership would help deepen the capabilities of both institutions and enable seamless cross-border intelligence exchange to address emerging risks.

The MoU, he added, demonstrates the shared objective of building a secure and resilient financial ecosystem while establishing a foundation for sustained cooperation between the two organisations.

The partnership highlights the growing role of regulatory technology, regulatory intelligence and cross-border information sharing in strengthening financial compliance and improving the resilience of financial institutions against emerging cyber and digital fraud risks.