Singapore

Enforcement

Multinational Firm Scammed by Deepfake Tech in Singapore

By Nithya Subramanian | 09/04/2025

Singapore and Hong Kong police teamed up to recover over USD 499,000 lost to a scam involving deepfake video technology and digital manipulation.

AML / KYC

MAS Proposes Amendments to AML/CFT Rules for FIs and VCCs

By Nithya Subramanian | 09/04/2025

MAS proposes the explicit inclusion of PF in the AML/CFT framework, stricter STR filing timelines, and enhanced transparency requirements for trusts.

Fintech / Regtech

Singapore Ransomware Attack Exposes Data of Bank Customers

By Nithya Subramanian | 08/04/2025

A ransomware attack on a printing service provider has exposed the personal information of over 11,000 DBS and Bank of China customers.

Fintech / Regtech

Asian Central Banks to Jointly Establish Multilateral Payments Scheme

By Manesh Samtani | 07/04/2025

RBI, BNM, BSP, MAS and BOT aim to make the Nexus platform a scalable multilateral model for connecting instant payment systems globally.

Capital / Liquidity

MAS Proposes Refinements to RBC 2 Framework for Insurers

By Nithya Subramanian | 01/04/2025

The proposals include a counter-cyclical adjustment for equity investment risk and stricter criteria for capital instruments.

MAS Finalises Rule Changes to Improve Retail Client Safeguards

By Nithya Subramanian | 31/03/2025

Enhancements to pre and post-transaction safeguards for retail clients purchasing investment products will come into effect on 29 December 2025.

Capital / Liquidity

MAS Confirms Plans to Revise Rules for Exchanges and Clearing Houses

By Nithya Subramanian | 29/03/2025

MAS will tighten solvency requirements for capital market FMIs and require them to hold sufficient cash for recovery or orderly wind-down.

MAS Proposes Framework for Retail Access to Private Markets

By Editors | 28/03/2025

MAS proposes a new framework to give retail investors greater access to private market investment funds via two novel fund structures.

Crypto / Digital Assets

MAS Consults on Adoption of BCBS Crypto Standards

By Nithya Subramanian | 28/03/2025

MAS seeks feedback on eligible reserve assets for unbacked cryptocurrencies, and proposes that AT1 and T2 capital instruments issued to retail investors shouldn’t count as regulatory capital.