Monetary Authority of Singapore

Fintech / Regtech

MAS to Support Quantum, AI Tech with S$100m Grant

By Nithya Subramanian | 19/07/2024

MAS said developing quantum and GenAI technologies are key priorities for building up capabilities in the financial sector.

AML / KYC

MAS Working to Standardise AML Programmes Across FIs

By Nithya Subramanian | 19/07/2024

MAS intends to engage the industry to “set a clearer waterline of practices” and ensure AML requirements are implemented “more evenly” across the sector.

Fintech / Regtech

MAS Sets Out Priorities to Build Financial Sector Capabilities

By Nithya Subramanian | 19/07/2024

MAS will focus on developing resilient digital financial services, fair dealing, and new capabilities in sustainability, AI and quantum technology.

Uncategorised

Moody’s Joins MAS’ Project Guardian in Fixed Income Workstream

By Nithya Subramanian | 18/07/2024

The ratings agency aim is to enhance transparency, reduce systemic risk and promote the growth of the tokenisation industry.

AML / KYC

MAS: FIs Should Conduct Enterprise-Wide ML/TF Risk Assessments

By Nithya Subramanian | 17/07/2024

The Singapore regulator has asked FIs to integrate insights from the recently published ML and TF national risk assessments.

AML / KYC

Singapore to Develop Standards for SoW Checks by Banks

By Editors | 10/07/2024

MAS has reportedly formed a group that will work to develop standards for account opening and source of wealth checks by year-end.

AML / KYC

Singapore Banks to Phase Out Use of OTPs for Account Login

By Editors | 09/07/2024

MAS and ABS said the phase-out of OTPs will make it harder for scammers to fraudulently access customer accounts and funds.

ESG / Sustainability

MAS Releases Annual Sustainability Report

By Nithya Subramanian | 05/07/2024

Financial institutions can find significant opportunities by channeling capital into green and transition technologies, said MAS Chairman, Gan Kim Yong.

Enforcement

Singapore Jails Former Fund Manager for Deceptive Conduct

By Editors | 04/07/2024

Sun Weiyeh is the first to be convicted under the SFA for fraudulent or deceptive conduct relating to OTC bond trading.