The Commercial Affairs Department (CAD) and the Monetary Authority of Singapore (MAS) have observed the emergence of initial coin (or token) offerings (ICOs), and other investment schemes involving digital tokens, in Singapore. Members of the public are advised to … [Read more...] about Consumer Advisory on Investment Schemes Involving Digital Tokens (Including Virtual Currencies)
MAS
MAS 1MDB probe: Summary of Regulatory Actions taken
SINGAPORE - The central bank of Singapore, Monetary Authority of Singapore (MAS), announced that it had concluded its review of transactions relating to the 1MDB scandal on 30 May 2017. In the same announcement, MAS mentioned that this supervisory review is the most … [Read more...] about MAS 1MDB probe: Summary of Regulatory Actions taken
Singapore forms new AML/CFT partnership with MAS, CAD and eight banks
Singapore's financial regulator, Monetary Authority of Singapore (MAS), and the financial intelligence unit of Singapore, Commerical Affairs Department (CAD) of the Singapore Police Force, announced the launch of a government-industry partnership to ramp up efforts in … [Read more...] about Singapore forms new AML/CFT partnership with MAS, CAD and eight banks
30,511 suspicious transaction reports filed to Commercial Affairs Department
Singapore - According to the annual report of the Commercial Affairs Department (CAD), the total number of reports filed for the year of 2015 is 30,511. This amount is vast increase of last year, where financial institutions filed a total of 29,082.CAD said the … [Read more...] about 30,511 suspicious transaction reports filed to Commercial Affairs Department
Dedicated AML Department for Singapore
In light of recent trend in rising money laundering activities, the central bank of Singapore will be setting up a dedicated departments to combat ML/TF. Singapore's financial sector faces the risk of being used as a conduit for money laundering and terrorist financing … [Read more...] about Dedicated AML Department for Singapore