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AML / KYC
COSMIC Will Yield Significant and Far Reaching Benefits
By Jamil Ahmed | 26/01/2022
Singapore is taking a leap forward in how its financial services industry detects and combats financial crime, says Jamil Ahmed.
AML / KYC
‘Focus on Fundamentals’ Could be Financial Crime Achilles Heel
By Bradley Maclean | 26/01/2022
New research suggests more meaningful financial crime prevention may be achieved with targeted investments in higher risk areas.
Fintech / Regtech
Singapore, Indonesia to Deepen Cooperation on Payments, AML
By Editors | 22/01/2022
MAS and Bank Indonesia will deepen cooperation on payments innovation, monetary policy, macroprudential policy, financial stability, and AML/CFT.
AML / KYC
MAS Fines Vistra Trust for Failures in AML Controls
By Editors | 20/01/2022
Vistra failed to identify certain higher risk accounts and to subject these accounts to EDD measures, both during account acquisition as well as on an ongoing basis.
AML / KYC
MAS, ABS Announce Measures to Bolster Online Banking Security
By Editors | 20/01/2022
Singapore banks will put in place the more stringent measures within the next two weeks, and work on more permanent solutions in the coming months.
NGFS Appoints Ravi Menon to Serve as New Chair
By Mark Johnston | 18/01/2022
Menon will serve a two-year term as chair of the NGFS, succeeding the ECB’s Frank Elderson. Deutsche Bundesbank’s Sabine Mauderer will serve as vice-chair.
Fintech / Regtech
Crypto Firms Should Not Advertise to Retail Customers: MAS
By Mark Johnston | 18/01/2022
New guidelines say crypto firms should refrain from advertising their services in public areas in Singapore or via social media influencers.
Fintech / Regtech
MAS Grants RMO Licence to Digital Asset Platform ECXX
By Editors | 17/01/2022
ECXX Global Pte Ltd entered Sandbox Express in August 2020 as a digital asset exchange platform providing investors access to security tokens.
Capital / Liquidity
MAS Gets New Mechanism to Transfer Excess Reserves to GIC
By Darien Choong | 17/01/2022
MAS will transfer about SGD 185 billion in excess reserves to the government in stages. GIC is estimated to become the world’s third-largest sovereign wealth fund as a result.
Fintech / Regtech
MAS Publishes Global CBDC Challenge 2021 Report
By Editors | 11/01/2022
MAS hopes to galvanise the financial ecosystem to co-create the next generation of payment rails built on the latest innovations.
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