Monetary Authority of Singapore

Climate Risk

NGFS to Develop Transition Planning Standards for Supervisors

By Ranamita Chakraborty | 02/06/2023

MAS head Ravi Menon, who chairs the NGFS, said guidance on transition planning will be produced to help supervisors set expectations for FIs.

PEPs & Sanctions

MAS Introduces Reporting Obligations for Exempted Payments Firms

By Manesh Samtani | 01/06/2023

Crypto firms still under a PSA exemption have to report the total number of “higher risk customers” they serve, such as PEPs and their close associates.

Reporting & Disclosures

Singapore to Consult Again on Green Taxonomy – Report

By Editors | 01/06/2023

MAS plans to issue a new consultation in the coming weeks to include additional criteria on coal phase-out in the taxonomy.

AI Risk & Governance

MAS to Enhance Generative AI Capabilities via Google Partnership

By Editors | 01/06/2023

The collaboration will enable MAS will develop its own generative AI capabilities and “inspire greater adoption” of the technology in the financial sector.

Fraud, Scams & Cybercrime

MAS Bans Former StanChart Adviser Following Forgery Conviction

By Editors | 31/05/2023

The former representative altered a document to falsely presenting another client as the account holder instead of the actual client.

Credit Risk

Cambodia’s Sathapana Bank Signs Up For AI Platform

By Karen Ng | 29/05/2023

Artificial intelligence is being used by banks to assess the credit risk of borrowers.

Anti-Money Laundering

MAS Issues Guidance on Mitigating Terrorism Financing Risks

By Manesh Samtani | 28/05/2023

The guidance says money remittance services, banks, DPT service providers, precious stone and metals dealers, and non-profit organisations are vulnerable to TF threats.

ESG Data

Singapore: ESG Registry Upgraded to Provide Better Data, Analytics

By Ranamita Chakraborty | 26/05/2023

ESGpedia platform updated to provide greater data coverage, enhanced solutions and analytics, and assessment tools.

Sustainable Finance

Singapore Launches Sustainable Finance Training for Asset Managers

By Ranamita Chakraborty | 25/05/2023

IMAS is introducing sustainable finance training courses to enhance capacity building within the asset management industry.