Singapore

AML / KYC

Singapore Releases Two Reports Tackling Terrorism Financing

By Nithya Subramanian | 02/07/2024

The updated TF National Risk Assessment found that money remittances remain High-Risk, while the refreshed strategy for CFT calls for robust regulatory regimes.

Market Infrastructure

Project Nexus Completes Blueprint; Prepares for Live Implementation

By Nithya Subramanian | 02/07/2024

To facilitate live implementation, a new entity named the Nexus Scheme Organisation, will be established.

Securities / Derivatives

Abaxx Launches LNG, Carbon Futures Trading in Singapore

By Editors | 29/06/2024

The new commodity futures contracts will provide market participants with new price discovery and risk management tools, Abaxx said.

Sanctions

Thai Banks Facilitating Procurement for Myanmar Military: UN Report

By Nithya Subramanian | 28/06/2024

A UN report identifies 16 banks in seven countries that have processed transactions linked to procurement for Myanmar’s military junta.

Crypto / Digital Assets

MAS Expands Project Guardian Initiatives to Scale Asset Tokenisation

By Nithya Subramanian | 28/06/2024

The financial regulator has also released a whitepaper on the design principles, objectives, considerations and potential uses of Global Layer One Initiative.

AML / KYC

Singapore’s National Asset Recovery Strategy To Enhance AML Regime

By Nithya Subramanian | 27/06/2024

The newly published asset recovery strategy takes a multi-faceted approach and is based on four pillars – detect, deprive, deliver and deter.

AML / KYC

Singapore Sets Anti-Scam Obligations for E-Commerce, Messaging Platforms

By Editors | 21/06/2024

Failure to comply with the new codes of practice will be considered a criminal offence under the Online Criminal Harms Act, which took effect in February.

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.