Singapore

Anti-Money Laundering

Singapore: Enhanced AML Checks Are Impacting Client Onboarding

By Nithya Subramanian | 17/09/2024

Enhanced checks and controls for banks have started to delay onboarding, but they are expected to lead to a safer business environment.

Anti-Money Laundering

Singapore Charges Vietnamese-American for Laundering $8.3m

By Nithya Subramanian | 17/09/2024

The Singapore Police Force said investigations have found that the funds were likely derived from overseas investment scams.

Fraud, Scams & Cybercrime

Singapore Probes Payment Delays at E-Commerce Platform

By Nithya Subramanian | 16/09/2024

After Qoo10 failed to pay merchants in South Korea, there are reports of payment delays also affecting small vendors in Singapore.

Cloud & Infrastructure

Singapore Launches e-Apostille Service for Document Authentication

By Nithya Subramanian | 13/09/2024

From 2025,  documents issued by ACRA can be authenticated online, reducing the processing time and the need for physical submissions.

Fraud, Scams & Cybercrime

Singapore Court Jails Crypto Firm Director for Ponzi Scheme

By Nithya Subramanian | 12/09/2024

Chen Wei, Director of A&A Blockchain Technology Innovation, has been sentenced to four years in prison for deceiving over 700 investors.

Fraud, Scams & Cybercrime

Singapore to Issue First Charges Under New Anti-Scam Laws

By Nithya Subramanian | 12/09/2024

Around 40 individuals will be charged with new offences under the CDSA and CMA for selling their bank accounts and Singpass credentials.

Fraud, Scams & Cybercrime

Singapore Police Nab 6 Men Linked to Global Cybercrime Syndicate

By Nithya Subramanian | 11/09/2024

The men, suspected of conducting global malicious cyber operations from Singapore, were arrested in an operation involving 160 police officers.

Conduct, Culture & Accountability

MAS Reprimands Insurance CEO for Compliance Breaches

By Nithya Subramanian | 11/09/2024

The former CEO was aware of breaches but failed to take adequate preventive measures despite written directions from MAS.

ESG Data

BIS, NGFS Developing Enhanced Climate Risk Data Platform

By Editors | 10/09/2024

The NGFS Data Directory 2.0 aims to enhance how the financial sector accesses and utilises climate risk data.