Singapore

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.

AML / KYC

Russia to Dirupt FATF Plenary in Singapore, Ukraine Warns

By Editors | 12/06/2024

Ukraine is reportedly warning that Russia will send officials to the FATF Plenary in an attempt to “contact, influence and pressure delegates”.

Hong Kong, Singapore to Strengthen Cooperation on Scam Calls

By Editors | 11/06/2024

Hong Kong’s OFCA and Singapore’s IMDA have signed an MoU to strengthen their cooperation in combating scam calls and messages.

Enforcement

Singapore Sentences 10th Individual in Money Laundering Case

By Nithya Subramanian | 11/06/2024

Su Jianfeng was sentenced to 17 months. Meanwhile, banks are tightening scrutiny of wealthy clients and providing additional training to staff.

AML / KYC

GCFFC APAC Chapter Publishes First Financial Scams Report

By Manesh Samtani | 10/06/2024

The GCFFC calls for the establishment of an international task force or body with a clear anti-fraud and scams mandate.

AML / KYC

Singapore Sentences 9th Individual in Money Laundering Case

By Manesh Samtani | 10/06/2024

Wang Dehai was sentenced to 16 months in prison; 17 other suspects at large overseas; Deposits involved in the case were held at 16 banks.

AML / KYC

17 Others Involved in Singapore Money Laundering Probe – Report

By Nithya Subramanian | 06/06/2024

The SGD 3 billion in cash and assets seized or issued with prohibition of disposal orders belonged to 27 individuals, not just the 10 accused so far.

Enforcement

SGX Imposes Three Year Ban on Ex-CEO of Listed Company

By Nithya Subramanian | 04/06/2024

The three-year ban is the most severe sanction SGX’s Listings Disciplinary Committee can impose.