Singapore

AML / KYC

Singapore Implements Tougher AML/CFT Rules for Financial Sector

By Manesh Samtani | 01/07/2025

Stricter rules targeting proliferation financing and tightening suspicious transaction reporting deadlines for FIs are now in effect.

Singapore Expands Access to FIDReC Dispute Resolution Services

By Nithya Subramanian | 01/07/2025

FIDReC’s financial dispute resolution services are now available to over 200,000 small businesses and 2,000 non-profits.

AML / KYC

MAS Fines Five Payment Firms for AML/CFT Lapses

By Nithya Subramanian | 01/07/2025

MAS investigations found lapses in customer due diligence, identifying beneficial owners and cross-border transaction monitoring.

Securities / Derivatives

Singapore Retail Investors Face Hurdles Exercising Rights: Survey

By Nithya Subramanian | 30/06/2025

The SIAS survey revealed that retail investors continue to face challenges in exercising their rights and calls for stronger protections.

AML / KYC

Singapore’s Sheng Siong Tightens $TM Safeguards Over ML Concerns

By Nithya Subramanian | 27/06/2025

Four individuals have been arrested for allegedly exploiting the supermarket chain’s $TM system as part of a money laundering operation.

MAS to Consider Stronger Safeguards for Inter-bank Transfers

By Nithya Subramanian | 27/06/2025

Currently, with no built-in verification of recipient names, the onus is on the sender to ensure the accuracy of inter-bank transfers.

Capital / Liquidity

MAS Issues New Guidance to Strengthen VCC Governance

By Nithya Subramanian | 27/06/2025

A thematic review revealed gaps in custody arrangements, director appointments, fund management substance, and AML controls.

ESG / Sustainability

Singapore Business Federation Calls for Climate Disclosure Deadline Extension

By Nithya Subramanian | 27/06/2025

The SBF recommends extending the compliance deadline by 1-2 years to allow small- and mid-cap companies to build up their capabilities.

AML / KYC

Singapore Agencies Issue Advisory to Stop Use of NRIC for Authentication

By Manesh Samtani | 27/06/2025

New joint advisory from the PDPC and CSA calls on private organisations to immediately cease the use of NRIC numbers for authentication.