the world. the promptpay - paynow connectivity that links domestic payments between thailand and singapore will go live very soon. india ’ s rupay and singapore ’ s nets were connected last year to make merchant payments interoperable. but linking payment systems bilaterally is complex and expensive, due to the different technical and data standards as well as legal regimes. we must explore multilateral cross - border payments in a more scalable way. the bank for international settlements ( bis ) innovation hub centre in singapore is exploring how payment systems could be linked together to enable faster and cheaper cross - border payments. there is strong synergy between the bis innovation hub ’ s work on a cross - border payments bridge with mas ’ work on foundational digital infrastructures. mas plans to collaborate with the bis innovation hub to explore opportunities to improve cross - border payments by connecting payment systems to digital identities across borders. we are also engaging financial regulators and central banks globally on their digital infrastructure initiatives to explore similar synergies and opportunities to move forward as a global digital community. just as governments collaborate on economic integration to advance prosperity, the time has come for them to do so with digital integration to seize new economic opportunities. this requires establishing foundational digital infrastructures and connecting them, to create truly global digital public goods. upon these platforms, enterprises can build innovative digital services and solutions to seamlessly serve global markets, helping to empower and uplift millions of people. 3 / 3 bis central bankers'speeches

by cad, an individual behind a company rbi holding pte ltd was charged with multiple counts of forgery and cheating offences for his involvement in fraudulent investment schemes. in a separate case, an individual was charged with cheating offences for promoting schemes that promised investors a 97 % return on their investment. 37 i have mentioned the mas - cad joint investigation. the police has also set up a centralised anti - scam centre in cad to tackle all forms of scams so as to enable them to intervene quickly to disrupt scammers ’ operations. 38 finally, it is worth reiterating that one should not plunge into an investment just because it promises a high return. avoid buying a product on impulse or herd instinct or name - familiarity. construct a well - diversified investment portfolio that is aligned with your investment objective and risk tolerance. today ’ s seminar will certainly cover these investing principles in more detail. conclusion 39 let me conclude. all stakeholders in the capital marketplace have a role in good corporate governance and effective market discipline. 40 on mas ’ end, we will continue our financial education efforts as an integral part of our regulatory and supervisory work. these will encompass heightened surveillance, investigation and enforcement actions with other authorities. 41 it leaves me to reiterate that investors should always seek to understand the issuer and product before investing in them. remember to “ ask. check. confirm ”. there will be a short halfminute video on this at the end of my remarks. do also visit the pop - up exhibition booth outside the theatre to learn more about the resources available to help you. 42 thank you for your attention. 5 / 5 bis central bankers'speeches