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Enforcement
Asian Police Bust Multi-Jurisdiction Malware Scam Syndicate
By Sanday Chongo Kabange | 18/06/2024
Police in Hong Kong, Singapore, Malaysia and Taiwan jointly targeted a group involved in malware-enabled scams.
Capital / Liquidity
How Asian Regulators Have Been Reflecting on 2023 Bank Failures
By Blake Evans-Pritchard | 18/06/2024
Asian regulators have been looking at whether the kinds of bank failures that occurred last year could also take place in their home markets.
AML / KYC
MAS, CAD Investigating Seatrium Over ‘Operation Car Wash’
By Editors | 16/06/2024
Seatrium disclosed that MAS and the Singapore police have requested further information for a joint investigation.
AML / KYC
Singapore Govt Agencies to Use Common SMS Sender ID
By Nithya Subramanian | 14/06/2024
All government agencies in Singapore will use the same SMS Sender ID to safeguard the public against scams.
Crypto / Digital Assets
Ghana, MAS Complete Cross-border Trade PoC Using CBDC
By Nithya Subramanian | 14/06/2024
Project DESFT demonstrated that the eCedi can facilitate the participation of MSMEs in international trade.
AML / KYC
Singapore Private Bankers Took Kickbacks from Property Deals
By Nithya Subramanian | 14/06/2024
Some private bankers reportedly received 30-50% of the commission for introducing clients to property agents.
ESG / Sustainability
BIS, MAS Develop Prototype Climate Risk Platform
By Nithya Subramanian | 13/06/2024
The platform uses NPL techniques to gather regulatory and climate data to help supervisors identify, monitor and manage climate risks.
AML / KYC
Singapore Authorities Tighten Scrutiny of Family Offices
By Nithya Subramanian | 12/06/2024
The annual forms for family offices with tax exemptions now ask for more details about beneficial owners and directors.
Fintech / Regtech
Singapore Shift to Flexible Work Calls for Extra Safeguards at FIs
By Nithya Subramanian | 12/06/2024
FIs may need to revisit their existing security policies and more closely monitor for staff misconduct.
Market Infrastructure
Singapore Consults on Implementation of Global Minimum Tax
By Nithya Subramanian | 12/06/2024
The proposed bill aims to ensure that large MNEs are taxed at 15 percent, in line with international tax reforms drawn up by the OECD.
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