Singapore

AML / KYC

Singapore Publishes Money Laundering Risk Assessment

By Manesh Samtani | 21/06/2024

Banking is Singapore’s highest risk sector. A key ML threat is cyber-enabled fraud, typically orchestrated by criminal syndicates located overseas.

Singapore, Cambodia Launch Financial Transparency Corridor

By Editors | 19/06/2024

The initiative will enable better credit risk assessments by participating FIs in both countries and improve access to financing for SME trade.

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.