Singapore

AML / KYC

ABS Launches New Registry to Counter Trade Finance Fraud

By Manesh Samtani | 25/06/2023

Participating banks can register new trade financing transactions and receive real-time notifications if instances of duplication are detected.

ESG / Sustainability

MAS Partners UNDP, GLEIF to Digitise ESG Credentials for MSMEs

By Ranamita Chakraborty | 23/06/2023

Project Savannah will establish a common framework of ESG metrics for MSMEs, enabling them to meet the UN SDGs and facilitate their access to cross-border opportunities.

AML / KYC

OCBC Launches Digital Account Opening Service for Foreign Consumers

By Editors | 23/06/2023

Customers who plan to relocate to Singapore from Malaysia, Indonesia, mainland China and Hong Kong can open OCBC bank accounts digitally.

Crypto / Digital Assets

MAS Grants Ripple In-Principle Approval to Offer DPT Services

By Editors | 22/06/2023

Ripple said the licence will allow it to offer regulated digital payment token products and services in Singapore and scale on-demand liquidity service.

Enforcement

MAS Fines Three Banks and an Insurer for AML Breaches

By Karen Ng | 22/06/2023

The institutions had “inadequate AML/CFT controls in place” when they dealt with persons who were involved in Wirecard-related transactions.

Crypto / Digital Assets

MAS Proposes Common Digital Money Standards

By Karen Ng | 21/06/2023

MAS has published a whitepaper specifying conditions for the use of digital money.

Enforcement

Singapore Sentences Two Former Wirecard Employees to Jail

By Karen Ng | 21/06/2023

These are the first convictions in the Wirecard scandal that brought down the German payment processor.

NSE, SGX Set for Full Launch of Trading Link on 3 July

By Manesh Samtani | 21/06/2023

NSE’s GIFT City unit unveiled a new corporate brand identity in preparation for the full-scale launch of its trading link with SGX.

Enforcement

SGX RegCo Reprimands Former Nutryfarm Directors for Breach of Listing Rules

By Karen Ng | 19/06/2023

The former Nutryfarm directors did not disclose a possible loan restructuring that would have a a material dilutive effect on Nutryfarm’s existing shareholders, SGX RegCo said.