Mystery shopping has proved to be a “useful complement” to the Monetary Authority of Singapore’s (MAS) supervisory tools used to identify conduct issues, one of the institution’s executive directors has said.

“When customer complaints are lodged, it is often difficult to tell which party is right or wrong as many cases involve one person’s words against the other,” said Merlyn Ee, during an appearance at a conference for financial advisers.  

Mystery shopping, Ee said, allows the central bank