Singapore

AML / KYC

MAS Offers New Guidance on BO Identification, Complex Structures

By Manesh Samtani | 01/09/2023

MAS inspections found “executional lapses” in this area as a result of “weak oversight” and “lack of risk awareness and vigilance”.

AML / KYC

MAS Issues Additional Guidance on Managing Sanctions Risk

By Manesh Samtani | 31/08/2023

The guidance covers board and senior management responsibilities and the use of look-back reviews of past transactions.

ESG / Sustainability

Carbon Credit Registry Launches in Singapore, Hong Kong

By Editors | 30/08/2023

The new carbon credit registry, launched by Singapore-based Asia Carbon Institute, is among the first for Asia.

ESG / Sustainability

CIX’s Larsen Sees Case For Regulating Carbon Credits

By Jill Wong | 30/08/2023

Mikkel Larsen, Singapore-based CEO of Climate Impact X (CIX), talks to Regulation Asia about greenwashing and the scope for regulating the carbon credit market.

Fintech / Regtech

Singapore, India Complete First Interoperable eBL Transaction

By Editors | 29/08/2023

Supported by Enterprise Singapore, DBS Bank completed the transaction in partnership with Maptrasco using IMDA’s TradeTrust framework.

ESG / Sustainability

Digital Technologies, Sustainability Key Areas for Dispute Resolution

By Jill Wong | 29/08/2023

The Singapore Convention Week, jointly organised by Singapore’s Ministry of Law and UNCITRAL, kicks off today (29 August) with discussions around digital technologies and sustainability.

AML / KYC

Singapore AML Probe Expands to Precious Metals, Property Agents

By Manesh Samtani | 29/08/2023

MinLaw urged precious metals dealers to review their transactions and business relationships. The Council for Estate Agencies is investigating property agents.

Fintech / Regtech

OCBC Suffers Near Four-hour Bank Service Outage

By Editors | 28/08/2023

OCBC’s internet and mobile banking platforms were disrupted from around 8.30am until around 12.20pm on Monday.

MAS Enhances Safeguards for Vulnerable Advice Customers

By Manesh Samtani | 28/08/2023

Financial advisory firms have to identify vulnerable customers, conduct pretransaction checks, and ask a “trusted individual” to be present during the sales and advisory process.