AUSTRAC has issued rules to support the introduction of the reforms, which include measures to streamline customer verification and correspondent banking.
June 21, 2021Bitkub needs to address five major issues before it can resume onboarding new clients, after high volume trading disrupted its systems in January.
February 8, 2021The amendments will update rules on correspondent banking and customer due diligence to reflect legislative changes passed in December.
January 28, 2021Suspected criminal proceeds mostly came from Australia, Germany, Singapore, the UK and the US. The top destinations of suspected illicit funds were Hong Kong, Singapore and the US.
January 25, 2021An AML bill introduced last October has passed the Senate but without last month's amendment to include real estate agents, accountants, lawyers.
December 14, 2020New rule amendments allow trust corporations to offer their investment products through third-party distributors, including individual and institutional agents.
September 27, 2020The Association of Banks in Singapore, support by MAS, is offering incentives to encourage uptake and usage of peer-to-peer funds transfer service PayNow.
April 10, 2020Under Alert Level 4, reporting entities have the discretion to not necessarily sight certain documents for ongoing CDD and account monitoring.
March 31, 2020At its Plenary, the FATF highlighted the use of digital identity systems, the new standards for virtual assets, and efforts to tackle illegal wildlife trade as some of its key initiatives.
February 24, 2020BNM will publish further guidance on the methods used for verifying customer and beneficial owner information and for authenticating their documents.
February 3, 2020