Monetary Authority of Singapore

AML / KYC

Singapore Publishes Environmental Crimes ML Risk Assessment

By Nithya Subramanian | 30/05/2024

Singapore is assessed to be at medium-low risk for money laundering linked to environmental crimes.

Fintech / Regtech

MAS Released New Project MindForge Whitepaper

By Editors | 28/05/2024

Building on the FEAT Principles and Veritas Methodology, the paper introduces a “platform-agnostic” reference architecture for responsible GenAI adoption.

Enforcement

MAS Bans Three Insurance Agents for Falsifying Records

By Nithya Subramanian | 27/05/2024

Three former Prudential insurance agents falsified records and furnished false information to the regulator.

AML / KYC

A Radical Re-think on Combatting Trade Based Money Laundering

By Kelvin Toh | 24/05/2024

Kelvin Toh discusses the factors hindering current efforts to combat TBML, and what more can be done to combat this activity.

Crypto / Digital Assets

Ghana Completes Cross-border eCedi Transaction With Singapore

By Nithya Subramanian | 21/05/2024

Transactions were made on a decentralised network using a Singapore dollar stablecoin and Ghana’s new digital currency, the eCedi.

ESG / Sustainability

MAS, PBOC Advance Collaboration on Green Finance Initiatives

By Nithya Subramanian | 21/05/2024

The deliverables relate to alignment of taxonomies, facilitation of green finance flows, and the development of a decarbonisation rating platform.

Enforcement

MAS Issues Prohibition Order Against Former DBS Employee

By Nithya Subramanian | 21/05/2024

Muhammad Hafiz Bin Ismail applied to be a wealth planning manager with DBS but failed to state in his fit and proper declaration that he was under investigation.

Enforcement

Former Eagle Hospitality Trust CEO Charged for Disclosure Breaches

By Nithya Subramanian | 20/05/2024

The former CEO is accused of “reckless” failure to disclose information that was necessary to avoid the establishment of a false market.

Fintech / Regtech

Implementing Singapore’s New OTC Derivatives Reporting Regime

By Manesh Samtani | 20/05/2024

Broadridge’s Carl Hovland and David Farmery talk to Regulation Asia about the measures firms should consider as they implement new OTC derivatives reporting requirements in Singapore.