Singapore

Liquidity Risk

How Asian Regulators Have Been Reflecting on 2023 Bank Failures

By Blake Evans-Pritchard | 18/06/2024

Asian regulators have been looking at whether the kinds of bank failures that occurred last year could also take place in their home markets.

Anti-Bribery & Corruption

MAS, CAD Investigating Seatrium Over ‘Operation Car Wash’

By Editors | 16/06/2024

Seatrium disclosed that MAS and the Singapore police have requested further information for a joint investigation.

Fraud, Scams & Cybercrime

Singapore Govt Agencies to Use Common SMS Sender ID

By Nithya Subramanian | 14/06/2024

All government agencies in Singapore will use the same SMS Sender ID to safeguard the public against scams.

CBDCs

Ghana, MAS Complete Cross-border Trade PoC Using CBDC

By Nithya Subramanian | 14/06/2024

Project DESFT demonstrated that the eCedi can facilitate the participation of MSMEs in international trade.

Anti-Money Laundering

Singapore Private Bankers Took Kickbacks from Property Deals

By Nithya Subramanian | 14/06/2024

Some private bankers reportedly received 30-50% of the commission for introducing clients to property agents.

Climate Risk

BIS, MAS Develop Prototype Climate Risk Platform

By Nithya Subramanian | 13/06/2024

The platform uses NPL techniques to gather regulatory and climate data to help supervisors identify, monitor and manage climate risks.

Anti-Money Laundering

Singapore Authorities Tighten Scrutiny of Family Offices

By Nithya Subramanian | 12/06/2024

The annual forms for family offices with tax exemptions now ask for more details about beneficial owners and directors.

Cybersecurity

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.

Structural Regulation

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.