On Feb. 13, 2018, the Monetary Authority of Singapore (MAS) issued a Consultation Paper on the Proposed E-Payments User Protection Guidelines (Consultation Paper). Under the Consultation Paper, the MAS proposes to issue a set of guidelines (Guidelines) to standardize the protection offered to individuals or micro-enterprises from losses arising from unauthorized or mistaken payment transactions.
The Guidelines are part of MAS’s ongoing review of Singapore’s regulatory framework for payment services. They are meant to provide general guidance and are not intended to be comprehensive or to replace or override any legislation.
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