Singapore

Reporting & Disclosures

Environmental Disclosure a Focal Point for Singapore FIs: Study

By Editors | 26/04/2021

Financial institutions in Singapore place significant importance on ESG performance, with a heavy focus on climate considerations.

Fraud, Scams & Cybercrime

SG Police Lay More Charges in Nickel Trading Fraud Case

By Editors | 26/04/2021

Ng Yu Zhi allegedly cheated five individuals into paying around S$8.8mn for nonexistent forward contracts purported to be for the sale of nickel to a metals trader.

Trading & Investment

SGX Launches New FFA, Futures For Managing Freight Risk

By Editors | 21/04/2021

The new contracts offer participants more precise hedging tools as a recovery drives demand for iron ore and minor bulks, SGX said.

Climate Risk

StanChart Commits to Cutting Emissions in Shipping Portfolio

By Manesh Samtani | 21/04/2021

Standard Chartered has joined 25 other signatories to the Poseidon Principles, a global framework that targets carbon emission cuts in the shipping industry.

Trading & Investment

Deutsche to Move Pricing Engine for EM Currencies to Singapore

By Ranamita Chakraborty | 20/04/2021

The move is in part aimed at increasing algorithm capacity for trading Chinese yuan, the most heavily traded emerging market currency.

Fraud, Scams & Cybercrime

SG Police Probe 31 Individuals for China Official Impersonation Scams

By Ranamita Chakraborty | 19/04/2021

Victims were instructed to surrender money for fake investigations after being told their bank accounts were involved in money laundering activities.

Anti-Money Laundering

MAS Penalises Bank J. Safra Sarasin for SoW/SoF Failures

By Manesh Samtani | 14/04/2021

The bank failed to establish the source of wealth and source of funds of customers and beneficial owners of higher-risk customers, MAS said.

Anti-Money Laundering

Singapore Court Jails Money Mule for Over 3.5 Years

By Ranamita Chakraborty | 13/04/2021

The woman received more than S$730,000 in criminal proceeds in various bank accounts she set up for her “online lover”.

Fraud, Scams & Cybercrime

Singapore: Former Banker Admits to Cheating Seven People

By Editors | 12/04/2021

Han Delong worked for UOB between August 2014 and December 2015, and for OCBC between March 2016 to January 2017.