Credit bureaus are organisations that collect, use and disclose information relevant to the credit worthiness of borrowers. As credit bureaus collect detailed borrower credit information from financial institutions, it is prudent to subject them to formal supervisory oversight by the MAS.

Under the Credit Bureau Act 2016, licensed credit bureaus are required to ensure that they take adequate measures to safeguard the confidentiality, security and integrity of sensitive borrower credit information and protect consumers’ interests.