Singapore central bank says to prioritise curbing disclosure breaches, money laundering
04 Nov 2020

Singapore’s central bank said on Wednesday it would prioritise combatting disclosure breaches, mis-selling of financial products, and money laundering in a report on financial markets oversight.

The Monetary Authority of Singapore also said it would focus on countering terrorism financing in its ‘Enforcement Report’ that is published every 18 months.

MAS said it would seek to update its enforcement powers to better detect, investigate, and take action against financial misconduct and would increase focus on the accountability of senior management for any breaches, according to the report.

The city-state is bolstering its enforcement regime as it seeks to solidify its position as a global financial hub.

By Aradhana Aravindan, Reuters, 3 November 2020

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