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MONETARY AUTHORITY OF SINGAPORE
AML / KYC
Singapore Banks to Phase Out Use of OTPs for Account Login
By Editors | 09/07/2024
MAS and ABS said the phase-out of OTPs will make it harder for scammers to fraudulently access customer accounts and funds.
ESG / Sustainability
MAS Releases Annual Sustainability Report
By Nithya Subramanian | 05/07/2024
Financial institutions can find significant opportunities by channeling capital into green and transition technologies, said MAS Chairman, Gan Kim Yong.
Enforcement
Singapore Jails Former Fund Manager for Deceptive Conduct
By Editors | 04/07/2024
Sun Weiyeh is the first to be convicted under the SFA for fraudulent or deceptive conduct relating to OTC bond trading.
Enforcement
MAS Fines GSG Capital Director for Insider Trading
By Editors | 04/07/2024
The sole shareholder and director of GSG Capital bought shares in SGX-listed GS Holdings while in possession of material non-public information.
AML / KYC
Singapore Withdraws Tax Incentives for SFOs in Money Laundering Case
By Nithya Subramanian | 03/07/2024
The total value of assets forfeited from convicted individuals with links to SFO funds far exceeds any tax benefits, said Gan Kim Yong.
Crypto / Digital Assets
MAS Grants Paxos Full Approval to Offer Stablecoins in Singapore
By Nithya Subramanian | 03/07/2024
Paxos is partnering with DBS Bank for cash management and the custody of stablecoin reserves.
AML / KYC
Singapore Releases Two Reports Tackling Terrorism Financing
By Nithya Subramanian | 02/07/2024
The updated TF National Risk Assessment found that money remittances remain High-Risk, while the refreshed strategy for CFT calls for robust regulatory regimes.
Market Infrastructure
Project Nexus Completes Blueprint; Prepares for Live Implementation
By Nithya Subramanian | 02/07/2024
To facilitate live implementation, a new entity named the Nexus Scheme Organisation, will be established.
Crypto / Digital Assets
MAS Expands Project Guardian Initiatives to Scale Asset Tokenisation
By Nithya Subramanian | 28/06/2024
The financial regulator has also released a whitepaper on the design principles, objectives, considerations and potential uses of Global Layer One Initiative.
AML / KYC
Singapore’s National Asset Recovery Strategy To Enhance AML Regime
By Nithya Subramanian | 27/06/2024
The newly published asset recovery strategy takes a multi-faceted approach and is based on four pillars – detect, deprive, deliver and deter.
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