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Monetary Authority of Singapore
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.
Enforcement
MAS Fines GSG Capital Director for Insider Trading
By Editors | 04/07/2024
The sole shareholder and director of GSG Capital bought shares in SGX-listed GS Holdings while in possession of material non-public information.
AML / KYC
Singapore Withdraws Tax Incentives for SFOs in Money Laundering Case
By Nithya Subramanian | 03/07/2024
The total value of assets forfeited from convicted individuals with links to SFO funds far exceeds any tax benefits, said Gan Kim Yong.
Crypto / Digital Assets
MAS Grants Paxos Full Approval to Offer Stablecoins in Singapore
By Nithya Subramanian | 03/07/2024
Paxos is partnering with DBS Bank for cash management and the custody of stablecoin reserves.
AML / KYC
Singapore Releases Two Reports Tackling Terrorism Financing
By Nithya Subramanian | 02/07/2024
The updated TF National Risk Assessment found that money remittances remain High-Risk, while the refreshed strategy for CFT calls for robust regulatory regimes.
Market Infrastructure
Project Nexus Completes Blueprint; Prepares for Live Implementation
By Nithya Subramanian | 02/07/2024
To facilitate live implementation, a new entity named the Nexus Scheme Organisation, will be established.
Crypto / Digital Assets
MAS Expands Project Guardian Initiatives to Scale Asset Tokenisation
By Nithya Subramanian | 28/06/2024
The financial regulator has also released a whitepaper on the design principles, objectives, considerations and potential uses of Global Layer One Initiative.
AML / KYC
Singapore’s National Asset Recovery Strategy To Enhance AML Regime
By Nithya Subramanian | 27/06/2024
The newly published asset recovery strategy takes a multi-faceted approach and is based on four pillars – detect, deprive, deliver and deter.
AML / KYC
Singapore Publishes Money Laundering Risk Assessment
By Manesh Samtani | 21/06/2024
Banking is Singapore’s highest risk sector. A key ML threat is cyber-enabled fraud, typically orchestrated by criminal syndicates located overseas.
Singapore, Cambodia Launch Financial Transparency Corridor
By Editors | 19/06/2024
The initiative will enable better credit risk assessments by participating FIs in both countries and improve access to financing for SME trade.
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