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Fraud, Scams & Cybercrime
Singapore Releases Blueprint to Combat Ransomware Attacks
By Mark Johnston | 17/12/2022
The blueprint includes recommendations to discourage ransomware payments and make it mandatory for organisations to report such payments.
Conduct, Culture & Accountability
MAS Proposes to Revise Fair Dealing Guidelines
By Editors | 15/12/2022
MAS proposes to widen the Guidelines to explicitly include all FIs and the corresponding products and services that they offer to their customers.
PEPs & Sanctions
Singapore Jails Man for Exporting Beverages to North Korea
By Editors | 14/12/2022
The man, while working as a manager for Pokka International, sold beverages he knew would later be exported to North Korea for commercial trade.
Fraud, Scams & Cybercrime
Singapore: Ex-Agritrade CFO Pleads Guilty to Deceiving Banks
By Editors | 12/12/2022
The former CFO used false financial statements to obtain loans for Agritrade International and its suppliers, causing over $469mn in losses for up to 12 banks.
Structural Regulation
Industry Ranks Singapore Top APAC Market to Operate In
By Editors | 11/12/2022
In an ASIFMA survey, capital market participants ranked Singapore as the top market for its political environment and predictable and transparent regulatory policy.
Fraud, Scams & Cybercrime
MAS Bans Former UOB, OCBC Representative for 15 Years
By Editors | 08/12/2022
The former representative deceived seven customers into transferring S$2mn to his personal bank accounts by promoting fictitious fixed deposits and other investment products.
Emerging Prudential Risks
Chinese, Hong Kong Firms Increasingly Setting Up in Singapore
By Editors | 06/12/2022
Up to 500 Chinese companies are estimated to have set up in Singapore this year. Meanwhile Hong Kong hedge funds are increasingly setting up operations in the city-state.
Trading & Investment
Full Launch of SGX-NSE Trading Link Planned for Q2 2023
By Editors | 01/12/2022
The trading link enables orders from SGX members to be routed to NSE IFSC for trading and execution. To date, 14 SGX clearing members have been onboarded.
Cryptocurrency
MAS Grants MetaComp Licence to Offer DPT Services in Singapore
By Editors | 01/12/2022
MetaComp, a unit of MetaVerse Green Exchange, is now able to offer regulated digital payment token services in Singapore.
Cryptocurrency
Singapore Deputy PM Defends Temasek Over FTX Loss
By Manesh Samtani | 01/12/2022
The FTX loss is disappointing, but it does not imply that the governance system is not working, deputy PM Lawrence Wong said.
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