Singapore

AML / KYC

17 Others Involved in Singapore Money Laundering Probe – Report

By Nithya Subramanian | 06/06/2024

The SGD 3 billion in cash and assets seized or issued with prohibition of disposal orders belonged to 27 individuals, not just the 10 accused so far.

Enforcement

SGX Imposes Three Year Ban on Ex-CEO of Listed Company

By Nithya Subramanian | 04/06/2024

The three-year ban is the most severe sanction SGX’s Listings Disciplinary Committee can impose.

Fintech / Regtech

DBS Experienced Service Disruption on Saturday – Report

By Nithya Subramanian | 04/06/2024

A spokesperson said a “small number” of users experienced network issues when accessing DBS/POSB digibank mobile services on Saturday.

Securities / Derivatives

Marketnode Set to Launch New Funds Settlement Infrastructure

By Editors | 04/06/2024

Fundnode will be ready within June with a network of partners including fund managers, wealth managers, and private banks.

Fintech / Regtech

Singapore Launches Governance and Testing Frameworks for GenAI

By Nithya Subramanian | 03/06/2024

Project Moonshot is a toolkit for testing GenAI models. The new Model AI Governance Framework spells out nine dimensions to foster a trusted GenAI ecosystem.

Securities / Derivatives

MAS Issues Guidelines for New Derivatives Reporting Regime

By Manesh Samtani | 03/06/2024

The guidelines focus on UTI generation and reporting, as well as re-reporting of contracts that haven’t yet matured when the new regime takes effect.

AML / KYC

Singapore Hands Down 8th Sentence in Money Laundering Case

By Nithya Subramanian | 31/05/2024

Chinese national Lin Baoying has been sentenced to 15 months in jail and will forfeit 90% of the S$170.5mn of assets seized from her.

MAS Expands Fair Dealing Guidelines to Include All FIs

By Nithya Subramanian | 31/05/2024

The new guidelines apply to all FIs operating in Singapore, regardless of where they are incorporated or where customers are located.

Fintech / Regtech

MAS Observes Data Governance Gaps at Some Banks

By Nithya Subramanian | 30/05/2024

Banks that underwent thematic inspections on their data governance and management have taken or are taking remedial actions.