Monetary Authority of Singapore

MAS to Release Revised Fair Dealing Guidelines for FIs Soon

By Nithya Subramanian | 19/03/2024

The updated guidelines will apply in a “risk proportionate manner” and ensure that customers are treated fairly, said MAS’ Ho Hern Shin.

ESG / Sustainability

UNDP, MAS, GLEIF Launch Whitepaper on Project Savannah

By Ranamita Chakraborty | 18/03/2024

The whitepaper details Project Savannah’s goals and strategy for empowering MSMEs in sustainability reporting through three key pillars.

Crypto / Digital Assets

Crypto Major OKX Wins In-principle Approval in Singapore

By Ranamita Chakraborty | 14/03/2024

OKX will focus on spot products first while it works to bring local banking connections to customers “as soon as possible”.

AML / KYC

Singapore Reported to be Scrutinising Wealth from Chinese

By Editors | 12/03/2024

Family office applications with Chinese-affiliated wealth have been denied and applicants are facing tough questions.

AML / KYC

Swiss Authorities Convict BSI Bank for Money Laundering

By Nithya Subramanian | 12/03/2024

Switerland’s Office of the Attorney General has imposed a fine of CHF 4.5 million for violations between August 2010 and June 2014.

AML / KYC

Singapore’s COSMIC Initiative Will Prioritise Consumer Safeguards

By Nithya Subramanian | 12/03/2024

COSMIC, launching in May, requires banks to implement a number of safeguards to protect legitimate customers from having their information shared.

Enforcement

Singapore Passes Bill to Give MAS Greater Investigative Powers

By Editors | 08/03/2024

The Bill enhances MAS’ evidence-gathering powers and facilitates greater inter-agency coordination for all parts of the financial sector.

Enforcement

Three Charged in Singapore Over Links to Billion-dollar Nickel Fraud

By Editors | 08/03/2024

The former CEO and two directors of Envysion Wealth Management have been charged over poor risk management and failure to mitigate conflicts of interest.

Crypto / Digital Assets

Bitstamp Wins In-principle Licence Approval in Singapore

By Nithya Subramanian | 07/03/2024

The European crypto exchange will focus on institutions, including payment processors, fintech companies and brokerages.