Singapore

Fraud, Scams & Cybercrime

Singapore Court Sentences Former Banker to Seven Years’ Jail

By Editors | 12/05/2021

The former UOB and OCBC banker promoted fictitious deposit and investment products to customers and then misappropriated the funds.

Anti-Money Laundering

MAS Consults on Proposed AML Notices for Foreign Offices, FRCs

By Manesh Samtani | 12/05/2021

MAS seeks comment on four notices, which contain requirements on record-keeping, internal policies, and the provision of records to MAS upon request.

Cloud & Infrastructure

Technology Skills in Short Supply in Financial Sector: Menon

By Ranamita Chakraborty | 11/05/2021

A mismatch between demand and supply means that Singapore will have to continue to depend on foreigners to fill growing vacancies for technology jobs.

Fraud, Scams & Cybercrime

MAS Issues 10-Year Ban Against Individual for Dishonest Conduct

By Editors | 10/05/2021

The individual carried out fund management activities without holding a capital markets services licence, and later convicted of cheating and imprisoned.

Conduct, Culture & Accountability

MAS Issues Revised Corporate Governance Guidelines for FIs

By Manesh Samtani | 09/05/2021

The guidelines provide good practices that financial institutions should observe in relation to their corporate governance and remuneration frameworks.

AI Risk & Governance

SGX RegCo Deploys AI & Machine Learning to Detect Risk

By Editors | 06/05/2021

SGX RegCo is adapting information from companies’ disclosures into structured data that can be more quickly analysed.

Sustainable Finance

MAS Launches FinTech Hackcelerator Focused on Green Finance

By Editors | 06/05/2021

Fintech firms and solution providers are invited to submit innovative solutions to address any of 52 problem statements related to green finance.

Fraud, Scams & Cybercrime

Singapore Court Jails Former CFO for Loan Fraud

By Ranamita Chakraborty | 05/05/2021

The former CFO of Coastal Oil Singapore conspired with three colleagues to deceive 8 banks into disbursing over $300mn in loans.

Cloud & Infrastructure

Regulatory Reporting Lessons from Singapore and Australia

By Editors | 04/05/2021

MAS and APRA are among the regulators that have wholeheartedly endorsed the use of technology to improve the quality, accuracy and speed of reporting.