Monetary Authority of Singapore

Custody & Infrastructure

MAS Grants In-Principle Approval to Digital Asset Custodian Hex Trust

By Ranamita Chakraborty | 25/07/2024

Hex Trust said the MPI license will allow it to offer regulated DPT services in Singapore, namely for custody and OTC trading of DPTs.

Nature & Biodiversity

Central Banks, Regulators Told to Tackle Deforestation

By ESG Investor | 19/07/2024

The World Wide Fund for Nature calls on central banks and regulators to take steps to limit capital flow to deforestation activities.

AI Risk & Governance

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.

Anti-Money Laundering

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.

Cybersecurity

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.

Tokenisation

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.

Anti-Money Laundering

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.

Anti-Money Laundering

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.

Fraud, Scams & Cybercrime

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.