MONETARY AUTHORITY OF SINGAPORE

Singapore, Cambodia Launch Financial Transparency Corridor

By Editors | 19/06/2024

The initiative will enable better credit risk assessments by participating FIs in both countries and improve access to financing for SME trade.

Capital / Liquidity

How Asian Regulators Have Been Reflecting on 2023 Bank Failures

By Blake Evans-Pritchard | 18/06/2024

Asian regulators have been looking at whether the kinds of bank failures that occurred last year could also take place in their home markets.

AML / KYC

MAS, CAD Investigating Seatrium Over ‘Operation Car Wash’

By Editors | 16/06/2024

Seatrium disclosed that MAS and the Singapore police have requested further information for a joint investigation.

Crypto / Digital Assets

Ghana, MAS Complete Cross-border Trade PoC Using CBDC

By Nithya Subramanian | 14/06/2024

Project DESFT demonstrated that the eCedi can facilitate the participation of MSMEs in international trade.

ESG / Sustainability

BIS, MAS Develop Prototype Climate Risk Platform

By Nithya Subramanian | 13/06/2024

The platform uses NPL techniques to gather regulatory and climate data to help supervisors identify, monitor and manage climate risks.

AML / KYC

Singapore Authorities Tighten Scrutiny of Family Offices

By Nithya Subramanian | 12/06/2024

The annual forms for family offices with tax exemptions now ask for more details about beneficial owners and directors.

Fintech / Regtech

Singapore Shift to Flexible Work Calls for Extra Safeguards at FIs

By Nithya Subramanian | 12/06/2024

FIs may need to revisit their existing security policies and more closely monitor for staff misconduct.

Enforcement

Singapore Sentences 10th Individual in Money Laundering Case

By Nithya Subramanian | 11/06/2024

Su Jianfeng was sentenced to 17 months. Meanwhile, banks are tightening scrutiny of wealthy clients and providing additional training to staff.

AML / KYC

Singapore Sentences 9th Individual in Money Laundering Case

By Manesh Samtani | 10/06/2024

Wang Dehai was sentenced to 16 months in prison; 17 other suspects at large overseas; Deposits involved in the case were held at 16 banks.