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Monetary Authority of Singapore
Fraud, Scams & Cybercrime
MAS Issues Amended E-Payments User Protection Guidelines
By Nithya Subramanian | 29/10/2024
The guidelines take effect the same day as the new Shared Responsibility Framework for phishing scams. MAS also issued a circular on anti-scam measures for MPIs that provide e-wallets.
Capital Adequacy
MAS Consults on Risk-based Capital Framework For Insurers
By Nithya Subramanian | 25/10/2024
MAS proposes to introduce differentiated capital treatment for infrastructure investments and to revise the approach for structured products under the RBC 2 framework.
Fraud, Scams & Cybercrime
Singapore to Launch Scam Loss Sharing Framework in December
By Nithya Subramanian | 25/10/2024
FIs have five duties under the framework, including a newly added requirement to implement real-time fraud surveillance.
Anti-Money Laundering
MAS, ABS Issue Guidance on Conducting AML/CFT Audits
By Nithya Subramanian | 22/10/2024
MAS issued a circular offering guidance for AML/CFT audits at FIs, while the ABS released a best practice paper to enhance audit standards.
Anti-Money Laundering
MAS Updates AML/CFT Guidelines to Support COSMIC Initiative
By Editors | 22/10/2024
The Guidelines to Notice 626 and Notice FSM-N02 were revised to align with requirements related to the COSMIC information sharing platform.
Emerging Prudential Risks
Singapore Amends Insurance Act Blocking Allianz-Income Deal
By Nithya Subramanian | 18/10/2024
The changes mean an extra layer of approval will be required for transactions involving insurers that are co-operatives or have co-operative links.
Conduct, Culture & Accountability
SGX Lifts Moratorium on UOBKH Following Remedial Actions
By Nithya Subramanian | 18/10/2024
UOBKH is now allowed to resume acting as an issue manager or full sponsor for new IPOs and reverse takeovers on SGX.
Anti-Money Laundering
MAS to Continue Suspension of Certain China Remittance Channels
By Nithya Subramanian | 27/09/2024
MAS is still reviewing whether to expand the suspension to corporate and legal entity customers of remittance companies.
Cryptocurrency
MAS Updates Consumer Protection Guidelines for Crypto Firms
By Nithya Subramanian | 26/09/2024
The updated guidelines reflect decisions set out by MAS in November 2023, focusing on consumer access, conflicts of interest and business conduct.
Cybersecurity
MAS Forms Panel of Cyber & Technology Resilience Experts
By Nithya Subramanian | 26/09/2024
The panel comprises 13 experts who will advise MAS on technology risks and threats facing the financial sector.
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