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AML / KYC
Trade-based Money Laundering: Avoiding Murky Waters
By Jamil Ahmed | 31/08/2020
HSBC Singapore’s Jamil Ahmed calls for continued vigilance, the use of technology, and participation in public-private partnerships to mitigate trade-based money laundering risks.
Singapore Raises Salary Requirement for Financial Sector Work Visa
By Manesh Samtani | 27/08/2020
MAS officials have recently said protecting Singaporean jobs was a “top priority” and that financial sector employers must “commit to growing the local talent pool”.
Crypto / Digital Assets
Malaysia, Indonesia Regulators Sign Fintech Cooperation Pact
By Sanday Chongo Kabange | 24/08/2020
The agreement aims to facilitate information sharing, provide joint innovation opportunities, and facilitate cross-border referrals of fintech businesses.
Securities / Derivatives
Singapore Authorities Charge Five Remisiers for False Trading
By Editors | 20/08/2020
The five individuals charged were former remisiers for Phillip Securities, OCBC Securities, DBS Vickers Securities, and Maybank Kim Eng Securities.
Market Infrastructure
The Case for a Central Lending Platform in Singapore
By Irene Liu | 20/08/2020
Not enough SMEs are taking advantage of government supported loan programmes, in part due to the onerous processes involved in accessing them, say PwC’s Irene Liu and Shierly Mondianti.
Market Infrastructure
MAS Becomes First Asian Government Entity to Issue RFR Debt
By Manesh Samtani | 19/08/2020
Singapore is seen to be leading Asia in its preparation for the cessation of LIBOR at the end-of 2021. Earlier this month, MAS announced new initiatives to catalyse SORA markets.
Enforcement
MAS Bans Two Individuals for Fraud and Dishonest Conduct
By Editors | 19/08/2020
Prohibition orders were issued against former representatives of Prudential Assurance Company Singapore and Bank of Singapore in two unrelated cases.
AML / KYC
PEPs in the Limelight: Three Components to Mitigate Risk
By Editors | 19/08/2020
To understand the money laundering risks they face, financial firms need a robust and scalable approach to PEP identification and due diligence, says Refinitiv’s Michael Meadon.
AML / KYC
Risk and Reward: AI Enables Active Financial Crime Risk Assessment
By Daniel Banes | 18/08/2020
Adverse media is openly available, continually updated, and provides a wealth of information, but it remains underused in financial crime risk assessments, writes Daniel Banes.
AML / KYC
Singapore Crypto Association Publishes Industry Code of Practice
By Editors | 17/08/2020
The code is accompanied by a practice guide providing regulatory guidance to facilitate payment services licence applications in Singapore.
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