In brief
On 20 October 2026, the Monetary Authority of Singapore (MAS) issued the Guidelines on Anti-Scam Measures for Brokers ("Guidelines"), together with a set of Frequently Asked Questions providing clarification. The Guidelines may be viewed here.
MAS has observed a rise in scams targeting investors through capital market intermediaries, particularly brokers. It is therefore important that brokers adopt sound and responsive anti-scam risk management frameworks to protect their customers, and continue to strengthen their capabilities to detect, prevent and respond to scam risks in a timely manner.
The Guidelines set out MAS' supervisory expectations for anti-scam measures that retail brokers should implement to protect retail customers from unauthorised access to their trading accounts and from scam-related financial losses, in the following areas:
- Responsibilities of the Board and Senior Management
- Login controls
- Trade placement and trade execution controls
- Funds withdrawal controls
- Ongoing monitoring and notification for suspicious activities and account changes
- Incident handling.
The Guidelines take effect on 30 June 2027. All retail brokers are however strongly encouraged to implement the anti-scam measures as early as practicable.
If you have any questions on how this may impact your business or operations, please feel free to reach out to us.
Download the full alert of Singapore: MAS Introduces Anti-Scam Measures for Retail Brokers
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