A task force has been set up to help Singapore's financial industry improve safeguards against scams and fraudulent transactions.
July 15, 2021AUSTRAC has issued rules to support the introduction of the reforms, which include measures to streamline customer verification and correspondent banking.
June 21, 2021The increased use of data analytics and digital processes has led to increased AML/CFT effectiveness, according to Assistant Managing Director Ms Loo Siew Yee.
May 3, 2021HSBC Singapore’s Jamil Ahmed calls for continued vigilance, the use of technology, and participation in public-private partnerships to mitigate trade-based money laundering risks.
August 31, 2020Public-private financial information sharing partnerships enhance the quality of regulatory reporting and improve law enforcement outcomes.
August 19, 2020Given its geographical location and reputation as a major finance and trading hub, Singapore firms need to take extra care to avoid implicating themselves in sanctioned transactions.
April 23, 2020The workshop participants discussed two of the key challenges to implementing data analytics systems to fight financial crime – explainability and governance.
October 28, 2019At the ICA's 2nd Annual APAC Conference this week, MAS assistant managing director Loo Siew Yee talked about the new techniques being used to improve AML/CFT detection and risk mitigation.
October 17, 2019It's time to have a conversation about implementing real AML information sharing across organisations, sectors and jurisdictions, writes Claus Christensen at Know Your Customer Ltd.
May 16, 2019MAS has renewed calls for financial institutions to further develop their data analytics capabilities in the interest of improving the effectiveness of their AML/CFT programmes.
April 9, 2019