Singapore

AML / KYC

MAS Publishes Findings from Recent AML Inspections at FIs

By Manesh Samtani | 03/11/2024

The new information paper addresses customers with multiple nationalities, source of wealth establishment, and post-STR risk mitigation measures, among other areas.

Enforcement

Former Dealer Jailed for Manipulating Singapore-listed Stocks

By Editors | 02/11/2024

The former dealer spoof the market 215 times between August 2020 and March 2021, resulting in over SGD 250,000 in illicit gains.

AML / KYC

Singapore Launches Law Enforcement Strategy to Tackle Money Laundering

By Nithya Subramanian | 01/11/2024

The strategy identifies 4 focus areas and 10 key actions to ensure that law enforcement agencies remain at the forefront of AML efforts.

Crypto / Digital Assets

MAS Grants In-Principle Approval to Crypto Firm Gemini

By Nithya Subramanian | 01/11/2024

The licence will allow Gemini to provide cross-border money transfers and digital payment token services in Singapore.

Securities / Derivatives

SGX Expands Access to Hong Kong Market with New SDRs

By Nithya Subramanian | 01/11/2024

SGX has launched five Hong Kong SDRs offering investors cost-effective and convenient access to top Hang Seng Index stocks.

AML / KYC

Singapore Publishes National Anti-Money Laundering Strategy

By Nithya Subramanian | 30/10/2024

The new national AML strategy expands on a 2016 policy statement and introduces three building blocks and three supporting pillars to improve Singapore’s AML framework.

Fintech / Regtech

MAS Establishes New Entity to Drive Next Phase of FinTech Growth

By Editors | 30/10/2024

MAS said the “Global Finance & Technology Network” will drive greater synergies within the global finance and technology communities for innovations in financial services.

AML / KYC

MAS Fines Atrium Asia Investment Management for AML/CFT Breaches

By Nithya Subramanian | 30/10/2024

The firm’s CEO was also reprimanded over failures to assess risks posed by customers, identify PEPs, and keep adequate records.

Crypto / Digital Assets

BIS and APAC Central Banks Release Results of Project Mandala

By Sanday Chongo Kabange | 29/10/2024

Project Mandala demonstrated that jurisdiction-specific regulatory requirements can be embedded in cross-border transaction protocols.