Singapore

AML / KYC

MAS Asks Banks to Improve Commodity Financing Risk Controls

By Nithya Subramanian | 07/03/2025

MAS shared its findings from thematic inspections, highlighting areas where banks and finance companies need to improve.

Crypto / Digital Assets

MAS Grants MPI Licences to Units of Hex Trust, Matrixport

By Nithya Subramanian | 07/03/2025

Both Hex Trust and Matrixport received approval for their Singapore operations after receiving in-principle approvals last year.

Enforcement

Singapore Considers Punishing Scam Offences With Caning

By Nithya Subramanian | 04/03/2025

The government will expand its efforts against money mule activities in 2025 and consider prescribing caning as a punishment for certain scam-related offences.

AML / KYC

Singapore Concludes Review of Incident Involving Exposed NRIC Numbers

By Nithya Subramanian | 04/03/2025

A review panel found shortcomings by ACRA and MDDI and offered recommendations to prevent similar incidents from recurring.

Enforcement

Singapore Charges Three for False Representation in Chip Smuggling Case

By Nithya Subramanian | 04/03/2025

The charges come after US officials started a probe last month to determine whether DeepSeek sourced advanced Nvidia chips through third parties in Singapore.

SGX-listed Firms Fall Short on Whistleblowing Policies, Study Finds

By Thisanka Siripala | 03/03/2025

The study, conducted by the National University of Singapore, developed a 20-item whistleblowing scorecard to assess adherence to listing requirements.

Crypto / Digital Assets

Singapore Witnesses Record Number of Scam Cases in 2024

By Nithya Subramanian | 27/02/2025

Crypto-related scams accounted for a quarter of total losses, police believe. Investment scams ranked highest in terms of financial losses.

Enforcement

MAS Imposes Fines on Five Individuals for False Trading

By Nithya Subramanian | 27/02/2025

Joint investigations by MAS and the police found that the group was artificially inflating the share price of Epicentre Holdings in 2019.

Market Infrastructure

Singapore Banks Have Completed the Transition to SORA

By Nithya Subramanian | 26/02/2025

The transition, which concluded in December 2024, enhances trust and confidence in SGD interest rates and strengthens market resilience.