Hanoi, May 4 -- The Monetary Authority of Singapore (MAS) on May 4 announced that it is working with partners in the banking industry, the Government Technology Agency of Singapore, and the Singapore police force to combat financial crime, using artificial intelligence and machine learning (AI/ML) techniques to enhance scam detection capabilities. In its statement, MAS said as part of broader efforts to harness AI/ML for industry-wide use cases, it is conducting a Proof-of-Value (POV) to explore AI/ML techniques for pre-emptive scam detection. By bringing together data from across five banks, the POV aims to build more robust and accurate AI/ML models that help identify higher-risk transactions and accounts. Prompt identification could enab...