The Monetary Authority of Singapore is validating artificial intelligence models for detecting financial fraud using real bank account information and transaction data. It is running a joint project with Singapore’s Government Technology Agency and the police to improve fraud detection. MAS is pooling historical transaction data from five banks and training and evaluating models using participating banks’ actual account numbers. It also set up security measures, including hashed account numbers and controlled data-sharing environments.

Hashed Open Finance, a unit of Web3 venture capital firm Hashed, has unveiled the first testnet for Maroo, a sovereign layer 1 blockchain aimed at supporting a Korean won stablecoin ecosystem. The company said Maroo is designed to retain public-chain openness while incorporating compliance, auditability and privacy protection from the outset. The testnet uses an OKRW token for fees and will test a dual-track model combining open and regulated transaction paths.