Monetary Authority of Singapore

Market Abuse

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.

Market Abuse

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.

Anti-Money Laundering

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.

Stablecoins

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.

Anti-Money Laundering

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.

Payments & Settlements

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.

Tokenisation

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.

Anti-Money Laundering

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.

Anti-Money Laundering

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.