{
  "id": 12556825,
  "title": "Financial institutions remain accountable for third-party AI under new MAS guidelines",
  "url": "https://urgent.news/2026/10/07/financial-institutions-remain-accountable-for-third-party-ai-under-12556825",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-07T05:27:30.000Z",
  "source": {
    "name": "CNA - Business",
    "slug": "cna-business",
    "url": "https://www.channelnewsasia.com/singapore/financial-institutions-ai-guidelines-mas-third-party-tools-6438406"
  },
  "original_language": "en",
  "account": "Singapore's Monetary Authority of Singapore (MAS) unveiled new guidelines on Oct 7, 2025 requiring financial institutions to assume responsibility for artificial intelligence (AI) used in their services, even when developed or managed by third-party providers. According to MAS, firms must evaluate and mitigate risks associated with AI, including those from external suppliers, and implement appropriate controls throughout the AI lifecycle. If risks remain beyond the firm's risk tolerance, they should consider limiting, suspending, or replacing the third-party AI service.\n\nFinancial institutions are expected to assess AI risks at both the enterprise level and individual use cases, build their AI capabilities, and regularly review controls as AI technology evolves. The guidelines also stress the need for effective oversight by boards and senior management, including setting clear roles, risk appetite, and management frameworks. MAS plans to consult the financial sector in 2027 on additional guidance for autonomous AI systems that can operate independently.",
  "summary": "Among other expectations, financial institutions will be accountable for AI used in delivered services, including AI developed, operated or provided by third parties.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Channel News Asia",
        "title": "Financial institutions remain accountable for third-party AI under new MAS guidelines",
        "url": "https://urgent.news/2026/10/07/financial-institutions-remain-accountable-for-third-party-ai-under",
        "published": "2026-10-07T05:27:30.000Z"
      },
      {
        "outlet": "The Business Times - Singapore",
        "title": "MAS rolls out AI risk management guidelines for Singapore’s financial sector",
        "url": "https://urgent.news/2026/10/07/mas-rolls-out-ai-risk-management-guidelines-for-singapores-financial",
        "published": "2026-10-07T06:09:49.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}