Monetary Authority of Singapore

Tokenisation

Philippines Launches DLT-based Distribution of Retail Treasury Bonds

By Sanday Chongo Kabange | 29/07/2020

The launch of ‘Bonds.PH’ paves the way for the unbanked to affordably and easily invest in retail treasury bonds, said National Treasurer Rosalia V. De Leon.

Anti-Money Laundering

MAS Revokes Capital Markets Licence for AML Breaches

By Editors | 28/07/2020

Apical Asset Management lacked basic AML/CFT controls despite complex ownership structures used by some of its clients. Its two directors were reprimanded.

Conduct, Culture & Accountability

IBF-MAS Initiative to Enhance Capabilities of Family Office Advisors

By Editors | 27/07/2020

A newly launched skills map for family office advisors will help them to deepen their skillsets, expand their career pathways, and enhance Singapore’s family office ecosystem.

Anti-Money Laundering

MAS Penalises Asiaciti Trust for AML/CFT Failures

By Editors | 22/07/2020

Asiaciti Trust failed to put in place adequate procedures to establish source of wealth, and did not inquire into unusually large transactions by customers who were PEPs.

Anti-Money Laundering

MAS Seeks Expanded Powers to Address Financial Sector Risks

By Manesh Samtani | 21/07/2020

MAS proposes to expand its powers to issue prohibition orders, regulate virtual asset service providers, and impose technology risk management requirements on firms.

Credit Risk

MAS Planning Ahead to Avoid ‘Cliff Effect’ of Relief Withdrawal

By Editors | 16/07/2020

“Bank loans and insurance policy premiums will eventually have to be paid,” MAS’ Ravi Menon said, pointing to a need to avoid the ‘cliff effects’ of sudden relief withdrawal.

Data Privacy

OCBC Enables Banking Access Via SingPass Digital Identity

By Editors | 16/07/2020

OCBC’s Aditya Gupta says the use of SingPass as an alternate login for mobile and online banking will give more customers the confidence to bank digitally.

Cloud & Infrastructure

APAC Regulators Driving Digital Transformation

By Rachel Woolley | 16/07/2020

The pandemic has made it abundantly clear that digital transformation is no longer optional, says Fenergo’s Rachel Woolley.

Anti-Money Laundering

MAS Issues AML Outsourcing Guidance for Capital Market Firms

By Editors | 15/07/2020

MAS found material lapses in outsourced AML/CFT controls, largely the result of poor assessment and due diligence processes, and lax oversight and monitoring.