9th January 2018
Singapore: The Attorney-General’s Chambers (AGC) is seeking the assistance of other authorities in the investigation into the Keppel Offshore and Marine (Keppel O&M) bribery and corruption scandal, Senior Minister of State for Finance and Law Indranee Rajah told Parliament on Monday (Jan 8). Most of the documents and testimony attesting… Read More
19th December 2017
The Monetary Authority of Singapore (MAS) has issued two more Prohibition Orders against individuals linked to the 1Malaysia Development Bhd (1MDB) state fund money laundering scandal. On Tuesday it announced a lifetime PO against Mr Yeo Jiawei and a three-year PO against Mr Kevin Scull. The regulator had earlier… Read More
24th November 2017
KYC360 News Singapore’s central banking authority is seeking views on plans to regulate risks to payment services such as money laundering and terrorism financing. The Monetary Authority of Singapore (MAS) has published its second consultation on the Payment Services Bill which also aims to empower it to set… Read More
14th November 2017
13 November 2017 By Sijia Jiang, REUTERS Buoyed by China’s plans to build a ubiquitous CCTV surveillance network, Chinese and some foreign investors are pouring money into start-up technology firms that specialize in facial recognition software. At stake for firms such as SenseTime Group, Face++ and DeepGlint, is a multi-billion… Read More
26th October 2017
By Faris Mokhtar, Today Online A 45-year-old Nigerian man who had been charged in a United States court for swindling Citibank was charged in a district court here on Wednesday (Oct 25) with laundering S$1.7 million. Paul Gabriel Amos, who is a Permanent Resident in Singapore and married to a… Read More
25th October 2017
Asia’s leading financial hubs are to jointly tap into blockchain and various fintech initiatives in order to bolster fund flows and capitalise on emerging technology. The Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Singapore (MAS) on Wednesday signed cooperation agreements which include joint innovation projects, referrals of… Read More
28th September 2017
Singapore will increasingly make use of technology and data analytics to detect and combat transnational crime and money laundering, Deputy Prime Minister Teo Chee Hean said on Thursday (Sep 28). Speaking at the Institute of Singapore Chartered Accountants’ financial forensic conference, Mr Teo said that the two key risks all… Read More
26th September 2017
Singapore banks have closed accounts of several companies which specialize in providing cryptocurrency and payments services, according to two local bodies which represent financial-technology firms. Noting that cryptocurrency firms have had similar problems with their banks in other countries, the head of Singapore’s Cryptocurrency and Blockchain Industry Association, or Access,… Read More
28th July 2017
In a speech delivered at the Association of Banks in Singapore (ABS) Financial Crime Seminar on July 2017, Mr. Chua Kim Leng, Assistant Managing Director, Monetary Authority of Singapore (MAS) talked about how banks can work smarter on the AML/CFT (anti-money laundering / countering the financing of terrorism) front. The subject… Read More
27th July 2017
The Monetary Authority of Singapore (MAS) has intensified efforts to stamp out money laundering and terrorism financing, but more could still be done, assistant managing director Chua Kim Leng said on Thursday (July 27). Mr Chua told a financial crime seminar organised by the Association of Banks in Singapore that… Read More