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AML / KYC
PwC Concludes Review of OCBC Anti Fraud Systems
By Ranamita Chakraborty | 26/04/2022
A review of OCBC’s anti-fraud systems and procedures concluded that the bank should take a more “integrated approach” to combat fraud and scams.
Enforcement
MAS Consults on Revised Misconduct Reporting Requirements
By Manesh Samtani | 24/04/2022
Misconduct reports will have to be submitted to MAS within 21 calendar days after an FI has found reasonable grounds to believe that misconduct has been committed.
Enforcement
Singapore Court Jails Company Director for Cheating Three Banks
By Editors | 22/04/2022
The man used fake invoices in business loan applications to cheat OCBC, Maybank and UOB out of about SGD 2.6 million.
Crypto / Digital Assets
Asset Managers Should Put Customers at Heart: SGX
By Manesh Samtani | 21/04/2022
At the IMAS Digital Summit 2022, SGX CEO Loh Boon Chye discussed the exchange’s approach to digital assets and technology adoption.
ESG / Sustainability
ABS Launches Environmental Risk Questionnaire for Banks
By Editors | 21/04/2022
The ABS has launched an industry standard template to help banks engage corporate clients in the assessment and mitigation of environmental risk issues.
AML / KYC
20 Year Old Pleads Guilty in OCBC Phishing Scam Case
By Editors | 20/04/2022
The individual worked with other youths to provide overseas syndicates control of bank accounts that were used to receive and dissipate funds obtained through scams.
Securities / Derivatives
Singapore Tightens Requirements for Family Office Tax Breaks
By Editors | 19/04/2022
The new requirements are expected to slow the market’s growth but over time attract larger and more wealthy families to set up in Singapore.
Market Infrastructure
Singapore Starts Licensing Cybersecurity Service Providers
By Darien Choong | 14/04/2022
Firms that provide penetration testing or managed security operations centre monitoring services have to apply for a licence by 11 October.
Fintech / Regtech
Australia, Singapore to Deepen Collaboration via ‘FinTech Bridge’
By Editors | 13/04/2022
The bilateral FinTech Bridge will enable stronger cooperation and collaboration on policy and regulation to better support the cross-border growth of the fintech industry.
ESG / Sustainability
SGX Set to List First ETF Based on New Low Carbon Index
By Editors | 12/04/2022
The ETF will allow investors to buy just one unit at a time, a feature aimed at attracting investment from younger and newer investors.
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