21st February 2018
Some of the biggest electronics bazaars in Asia are being flooded with customers looking for the latest piece of technology: cryptocurrency mining rigs. Scores of miners from around the world are traveling to places like Hong Kong’s Sham Shui Po and Singapore’s Sim Lim Square to buy the rigs, which… Read More
11th February 2018
The Monetary Authority of Singapore (MAS) has published guidance on the use of technology when signing up customers at banks and other financial firms. The regulator, which expects financial institutions (FIs) to implement robust controls when on-boarding customers in order to prevent money laundering and terrorism financing, already allows some… Read More
16th January 2018
Singapore’s financial regulator has proposed new customer checks for forex, money changing and remittance businesses in order to curb financial crime risks. The Monetary Authority of Singapore (MAS) on Tuesday published a consultation seeking industry views on its planned new rules that will require remittance firms to perform customer… Read More
15th January 2018
Singapore applies the same anti-money laundering (AML) rules for traditional or fiat currency as it does for virtual currencies, Singaporean Deputy Prime Minister Tharman Shanmugaratnam said in response to a parliamentary question on AML enforcement in crypto transactions. Shanmugaratnam, who is also the minister in charge of regulator the Monetary… Read More
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