Singapore

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    Anti-Money Laundering

    Singapore ACIP Issues Guidance on Managing Crypto-Related ML/TF Risk

    By Manesh Samtani | 17/07/2023

    FIs are encouraged to actively identify customers with a nexus to cryptocurrencies, and to apply EDD where ML/TF and sanctions risks are assessed to be higher.

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    Market Abuse

    Singapore Jails Four on False Trading, Deception Convictions

    By Editors | 14/07/2023

    The four were convicted for their involvement in a scheme to manipulate the price of Catalist-listed Koyo International between 2014 and 2016.

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    Capital Adequacy

    Singapore Digital Banks Urge MAS to Lift Caps on Deposits

    By Editors | 14/07/2023

    Grab’s GSX Bank and  Sea’s MariBank say the deposit cap imposed on new digital banks is hindering their ability to expand and lend.

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    Climate Risk

    Majority of SGX-Listed Firms Embrace Climate Reporting Initiatives

    By Editors | 13/07/2023

    New report shows two-thirds of SGX listed companies have embarked on climate reporting initiatives.

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    Model Risk

    Temasek Posts USD 5.5 Billion Net Loss on IFRS 9 Regulations

    By Karen Ng | 12/07/2023

    The Singapore government’s investment arm said its USD 5.46 billion net loss for the year ended March 2023 was due to the IFRS 9 requirement to account for unrealised mark-to-market losses on sub-20 percent investments.

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    KYC & CDD

    MAS, Cambodia Ink MOU for Financial Transparency Corridor

    By Karen Ng | 12/07/2023

    The MOU aims to to enhance financial transparency and promote trade and cross-border financial services for small and medium enterprises (SMEs).

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    Fraud, Scams & Cybercrime

    Singapore’s Cyber Security Agency Inks MOU in Cybercrime Fight

    By Karen Ng | 11/07/2023

    The Cyber Security Agency of Singapore aims to protect financial institutions against cybercrime through information sharing and preparation against cyber-attacks.

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    Trading & Investment

    Singapore Issues Notice on Bloomberg’s Publication of MAS Recommended Rate

    By Editors | 10/07/2023

    The Spread Adjustment published by Bloomberg “differs slightly” for the overnight and 1-month tenor, the SC-STS explains.

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    Fraud, Scams & Cybercrime

    MAS Urges Banks to Stop Use of SMS OTP

    By Karen Ng | 10/07/2023

    The MAS is urging banks to move away from the sole reliance on SMS OTP as the only authentication factor for transactions.

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    Anti-Money Laundering

    MAS Punished 17 FIs for Breaching AML/CFT Laws in 5 Years

    By Karen Ng | 07/07/2023

    A total of 20 investigations have been conducted during the time frame 1 June 2018 to 23 June 2023

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