Singapore Unveils Safeguards Framework For AI Agents In Finance

SINGAPORE, July 3 (Xinhua) -- The Monetary Authority of Singapore (MAS), together with financial institutions and fintech firms, has published a white paper outlining safeguards for the use of artificial intelligence (AI) agents in financial services.

The paper, titled "Safeguards for Agentic Finance at Runtime" (SAFR), proposes an industry-developed framework to help ensure AI agents carry out financial tasks safely, securely and reliably, the regulator said on Friday.

The MAS said the framework is designed to address risks as AI agents increasingly perform tasks autonomously and at speeds beyond practical human oversight.

The SAFR introduces governance checkpoints that verify and record an AI agent's proposed actions before execution, helping ensure they remain within predefined mandates and risk limits.

Industry participants have tested the SAFR in areas including payments and treasury operations, wealth management and compliance reviews, as well as client engagement and advisory services. 

--NNN-Xinhua