Singapore

Anti-Money Laundering

Singapore Court Sentences Ex-Wirecard Employee to Jail

By Editors | 11/10/2023

The former junior finance executive was sentenced to ten weeks in jail for helping a supervisor embezzle S$47,000.

Fraud, Scams & Cybercrime

Singapore Police Working With Meta to Stop Scams – Report

By Editors | 11/10/2023

The police are working with Meta to terminate WhatsApp lines believed to be used in scams and remove suspicious ads on Facebook and Instagram.

Climate Risk

Singapore Publishes Criteria for Acceptance of Carbon Credits

By Editors | 10/10/2023

Carbon credits from other countries can only be used by carbon tax-liable companies in Singapore if they fulfill seven eligibility criteria.

Tokenisation

Singapore Law Well-Placed to Support Digital Bonds Growth

By Jill Wong | 09/10/2023

Singapore law has what it takes to support the growth of the digital bonds market, say two Linklaters lawyers.

Conduct, Culture & Accountability

MAS and Industry Bodies Publish Financial Planning Guide

By Editors | 08/10/2023

Financial advisory firms and their representatives are asked to refer to the guide in their financial planning conversations with customers.

Anti-Money Laundering

Singapore Property Agents Found Guilty of Breaching AML Rules – Report

By Editors | 06/10/2023

The agents failed to comply with regulations relating to obtaining, documenting and verifying the accuracy of the identifying information of the buyers.

Payments & Settlements

APAC Central Banks Explore Common Protocol for Regulatory Policy

By Manesh Samtani | 05/10/2023

Project Mandala will be run by BIS Innovation Hub Singapore Centre, along with the RBA, BOK, BNM and MAS, with collaboration from FIs.

Tokenisation

UPDATE – UBS, SBI Launch Tokenised VCC Fund Pilot in Singapore

By Editors | 04/10/2023

The live pilot of a tokenised money market fund was launched under a wider VCC umbrella as part of Project Guardian.

AI Risk & Governance

MAS Sheds Light on Use of AI in Supervisory Activities

By Sanday Chongo Kabange | 04/10/2023

MAS is using AI tools to identify market collusion, manipulation, mis-selling by financial advisers, and networks of suspicious activity in Singapore’s financial system.