[Singapore Monetary Authority and Singapore Bank Association Establish ACT Task Force to Address AI Cyber Threats] According to e27, the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) have jointly established the AI-driven Cyber and Technology Risk Task Force (ACT), with members including DBS, OCBC, UOB, Singapore Exchange, NETS, and BCS. The task force focuses on promoting industry-wide sharing of AI cybersecurity experiences, conducting proof-of-concept tests for AI defense tools, and developing security controls and response guidelines for AI threats. Vincent Loy, Assistant Managing Director of the Monetary Authority of Singapore, stated that cutting-edge AI is increasing the severity, scale, and complexity of cyberattacks, and the financial industry must respond with a strong sense of urgency and robust collaboration.