Monetary Authority of Singapore

Market Infrastructure

Seven Takeaways from MAS’ Technology Risk Management Guidelines

By Grace Chong | 25/01/2021

The amended guidelines represent a firm step towards further strengthening the defences of Singapore’s financial ecosystem, placing the industry in good stead for the post-Covid economic recovery.

AML / KYC

Financial Crime 2021: Digital ID, Due Diligence, Sanctions

By Editors | 21/01/2021

Last year’s financial crime landscape forced many FIs to rapidly adapt to evolving threats. In the year ahead, a continued focus on risk mitigation is prudent.

Market Infrastructure

MAS Raises Expectations on Technology Risk Management

By Editors | 19/01/2021

The revised guidelines set out higher expectations for FIs in technology risk management, including for assessments of third-party suppliers.

Fintech / Regtech

Asia Has an Opportunity to Demonstrate Global RegTech Leadership

By Manesh Samtani | 18/01/2021

Hong Kong, Singapore and Tokyo each have an opportunity to demonstrate global leadership in the regtech sector, according to a panel of experts hosted by the Asia Society’s Hong Kong Center.

ESG / Sustainability

ESG Investing Seen As Key Growth Driver for Singapore Fund Managers

By Manesh Samtani | 13/01/2021

86% of Singapore fund managers highlighted ESG investing as a key growth driver, up from 68% in the previous year, according to survey findings from IMAS.

AML / KYC

Singapore Money Remittance Sector Poses High TF Risk: MAS

By Manesh Samtani | 11/01/2021

Singapore’s money remittance sector poses the highest risk of being exploited for terrorism financing, followed by the banking sector.

Fintech / Regtech

MAS Announces Completion of Phase One of Veritas Initiative

By Editors | 06/01/2021

The first phase of Veritas resulted in the development of a fairness assessment methodology based on the FEAT principles for two use cases.

Market Infrastructure

MAS Consults on Proposed Notices for Outsourced Services

By Manesh Samtani | 21/12/2020

Banks’ outsourcing agreements must include terms that grant MAS the right to audit the outsourced arrangement and obtain information from the service provider.

Capital / Liquidity

MAS Consults on Operational Risk Capital, Leverage Ratio Requirements

By Editors | 17/12/2020

MAS intends to implement the revised standards for operational risk capital and leverage ratio requirements from 1 January 2023.