Singapore

Reset Filter

Jurisdictions

Industry Sectors

Predicate Crimes

Enforcement

Regulatory Update

21st February 2018

Computer shops embrace lucrative business: outfitting cryptocurrency miners

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

Singapore: Regulator issues guidance on technology, on-boarding at banks

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

Laundering: Singapore proposes screening changes for forex, remittance businesses

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: Deputy prime minister clarifies anti-money laundering rules for bitcoin

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

Corruption: Singapore seeks int. assistance with Brazilian-linked investigation

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

Singapore issues bans regarding Malaysian 1MDB money laundering scandal

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

Singapore consults on money laundering risks to payment services

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

Backing Big Brother: Chinese facial recognition appeals to funds

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

Singapore: Accused Nigerian man linked to previous S$27m swindle

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

Hong Kong, Singapore sign trade finance blockchain deal

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

Must Read

U.S. seizes millions in cryptocurrency meant for terror groups

U.S. regulators issue guidance on AML enforcement actions

Luxury homes tie Chinese communist elite to Hong Kong’s fate

Information sharing in the era of coronavirus tracing apps – a new context for fighting financial crime?

Brazilian To Surrender $190 Million In Laundered Money