Singapore

Anti-Money Laundering

Singapore Charges Second National for Terrorism Financing

By Editors | 19/09/2019

A Singapore national was charged for providing money for terrorist purposes after he sent about $830 to an individual overseas who was said to have been facilitating terrorist acts.

Trading & Investment

BIS Survey Reveals Rising Significance of Asian FX Hubs

By Manesh Samtani | 18/09/2019

Sales desks in China, Hong Kong and Singapore all recorded rises in FX trading activity compared to three years earlier. The UK increased its dominance despite Brexit fears.

Trading & Investment

SGX Annual Report Highlights Rising Interest from Global Investors

By Manesh Samtani | 13/09/2019

SGX is exploring how new technologies can further add value for customers and improve operations, while its regulatory arm seeks a stronger presence and oversight.

Anti-Money Laundering

Malaysia Association Joins APAC RegTech Network

By Editors | 10/09/2019

The APAC RegTech Network was established by the regtech committees of the fintech associations of Hong Kong, Japan and Singapore in May.

Trade Based Money Laundering

Singapore: New Platform Targets AML Risks in Trade Finance

By Editors | 09/09/2019

The new electronic platform enables banks to obtain and reference data derived from trade permits issued by Singapore Customs to augment their trade finance compliance checks.

Payments & Settlements

Singapore Streamlines Payment Firms’ Access to Legal Services

By Editors | 09/09/2019

The initiative will help connect the payments industry with specialist law firms through a streamlined process to help them comply with the new Payment Services Act.

Cloud & Infrastructure

MAS Proposes New Format for Reporting Financial Advisor Complaints

By Editors | 05/09/2019

Collecting data in a machine-readable format will increase efficiency by removing the need for manual processes and reducing the risk of human errors, MAS says in a consultation paper.

Reporting & Disclosures

GRI Sets Up in Singapore to Promote Sustainability Reporting in ASEAN

By Editors | 04/09/2019

The new ASEAN hub will generate valuable know-how for ESG reporting and sustainable finance, and contribute to Singapore’s development as a financial centre, says SGX CEO Tan Boon Gin.

Fraud, Scams & Cybercrime

Singapore Police, Banks Collaborate to Thwart Scammers

By Editors | 03/09/2019

Since the Anti-Scam Centre was set up in June, DBS, OCBC and UOB have frozen 815 bank accounts and recovered S$840,000 in scam-related losses.