Singapore

AML / KYC

Singapore Publishes Environmental Crimes ML Risk Assessment

By Nithya Subramanian | 30/05/2024

Singapore is assessed to be at medium-low risk for money laundering linked to environmental crimes.

Fintech / Regtech

Singapore Launches Digital Enterprise Blueprint for SMEs

By Nithya Subramanian | 30/05/2024

The DEB will support SMEs in making full use of their existing digital capabilities and help them adopt AI-enabled solutions.

Fintech / Regtech

MAS Released New Project MindForge Whitepaper

By Editors | 28/05/2024

Building on the FEAT Principles and Veritas Methodology, the paper introduces a “platform-agnostic” reference architecture for responsible GenAI adoption.

Enforcement

MAS Bans Three Insurance Agents for Falsifying Records

By Nithya Subramanian | 27/05/2024

Three former Prudential insurance agents falsified records and furnished false information to the regulator.

AML / KYC

Singapore Secures Seventh Conviction in Money Laundering Case

By Nithya Subramanian | 24/05/2024

Cambodian national Chen Qingyuan, who is wanted in China, has been sentenced to a 15-month jail term and will forfeit S$21mn.

Fintech / Regtech

“Ecosystem Approach” Vital to Combat Digital Fraud: HKMA

By Nithya Subramanian | 23/05/2024

Coordinated global efforts and information sharing initiatives are becoming more commonplace to combat fraud, but there is still work to do, said HKMA’s Carmen Chu.

Crypto / Digital Assets

Ghana Completes Cross-border eCedi Transaction With Singapore

By Nithya Subramanian | 21/05/2024

Transactions were made on a decentralised network using a Singapore dollar stablecoin and Ghana’s new digital currency, the eCedi.

ESG / Sustainability

MAS, PBOC Advance Collaboration on Green Finance Initiatives

By Nithya Subramanian | 21/05/2024

The deliverables relate to alignment of taxonomies, facilitation of green finance flows, and the development of a decarbonisation rating platform.

Enforcement

MAS Issues Prohibition Order Against Former DBS Employee

By Nithya Subramanian | 21/05/2024

Muhammad Hafiz Bin Ismail applied to be a wealth planning manager with DBS but failed to state in his fit and proper declaration that he was under investigation.