Monetary Authority of Singapore

AML / KYC

Singapore Cuts Down Time to Freeze Bank Accounts

By Ranamita Chakraborty | 04/03/2021

Singapore Police have collaborated with over 20 FIs to reduce the time it takes to freeze bank accounts with suspected links to scammers.

Enforcement

MAS Bans Four Individuals Following False Trading Convictions

By Editors | 04/03/2021

Three former remisiers and one former insurance agent were banned following convictions connected to false trading in Catalist-listed Koyo International.

MAS, ABS Offer Guidance on Managing Remote Working Risks

By Manesh Samtani | 02/03/2021

The paper looks at possible risks to FIs in the areas of operations, technology, information security, fraud, staff misconduct, among others.

Enforcement

MAS Bans Former Insurance Broker for Dishonest Conduct

By Editors | 25/02/2021

The former insurance broker was banned for unauthorised selling of general insurance when he was only licensed to sell life policies.

AML / KYC

Financial Crime Challenges and Opportunities for the Year Ahead

By Editors | 24/02/2021

Financial crime compliance experts Radish Singh, Richard Carrick, Oonagh van den Berg and Michael Meadon discuss challenges and opportunities for the year ahead.

Market Infrastructure

LCH Extends Central Clearing for SORA Derivatives to 21 Years

By Manesh Samtani | 22/02/2021

MAS will likewise extend the tenor of its daily SORA derivatives auctions with major derivatives dealers from 5-years to 20-years.

Capital / Liquidity

MAS Proposes Revisions to Requirements for Insurers

By Manesh Samtani | 22/02/2021

MAS proposes to enhance the current requirements relating to enterprise risk management, investment risk management and disclosure practices.

Fintech / Regtech

Sea Group to Establish Digital Banking Operations in Indonesia

By Ranamita Chakraborty | 22/02/2021

Sea Group’s e-commerce arm Shopee plans to turn a newly acquired Indonesian bank into a digital bank. OJK is meanwhile preparing new regulations for digital banks.

Enforcement

Singapore Police Investigate Nickel Trading Investment Fraud

By Editors | 21/02/2021

Envy Asset Management and Envy Global Trading are suspected of using investors’ funds to finance nickel trading activities. Both have had their bank accounts frozen.