Monetary Authority of Singapore

Structural Regulation

MAS to Get New Managing Director, Menon to Step Down

By Editors | 04/09/2023

Ravi Menon will step down from his role as managing director of MAS and retire from public service on 1 January 2024.

Anti-Money Laundering

MAS Offers New Guidance on BO Identification, Complex Structures

By Manesh Samtani | 01/09/2023

MAS inspections found “executional lapses” in this area as a result of “weak oversight” and “lack of risk awareness and vigilance”.

PEPs & Sanctions

MAS Issues Additional Guidance on Managing Sanctions Risk

By Manesh Samtani | 31/08/2023

The guidance covers board and senior management responsibilities and the use of look-back reviews of past transactions.

Anti-Money Laundering

Singapore AML Probe Expands to Precious Metals, Property Agents

By Manesh Samtani | 29/08/2023

MinLaw urged precious metals dealers to review their transactions and business relationships. The Council for Estate Agencies is investigating property agents.

Operational Risk

OCBC Suffers Near Four-hour Bank Service Outage

By Editors | 28/08/2023

OCBC’s internet and mobile banking platforms were disrupted from around 8.30am until around 12.20pm on Monday.

Conduct, Culture & Accountability

MAS Enhances Safeguards for Vulnerable Advice Customers

By Manesh Samtani | 28/08/2023

Financial advisory firms have to identify vulnerable customers, conduct pretransaction checks, and ask a “trusted individual” to be present during the sales and advisory process.

Payments & Settlements

Vietnam Joins ASEAN Payment Connectivity Initiative

By Sanday Chongo Kabange | 28/08/2023

The inclusion of the SBV has increased the Regional Payment Connectivity group from five to six ASEAN central banks.

Capital Adequacy

Bank AT1 Capital: Going Where?

By Jamie Lloyd Evans | 27/08/2023

Regulation Asia contributor, Jamie Lloyd Evans, explores the possibility of a policy change on AT1 capital in light of recent banking system distress.

Fraud, Scams & Cybercrime

Trend of Rising Crypto Scams Seen In A&A Blockchain Case

By Ranamita Chakraborty | 23/08/2023

Industry experts spoke to Regulation Asia about crypto scams in the context of charges brought against four A&A Blockchain executives who scammed 12 individuals into investing in a crypto mining scheme.