PRESS RELEASE BY MINISTRY OF FINANCE, SINGAPORE On 21 June 2017, Singapore will sign the Multilateral Competent Authority Agreements (“MCAAs”) on:the Automatic Exchange of Financial Account Information under the Common Reporting Standard (“CRS”); and the … [Read more...] about Singapore Signs MCAAs to Enhance Tax Co-operation on Exchange of Information
Singapore
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’s central bank fines Credit Suisse, UOB over 1MDB-linked transactions
SINGAPORE (Reuters) - Singapore's central bank said on Tuesday it had fined Credit Suisse and United Overseas Bank (UOB) a total of S$1.6 million for breaches of anti-money laundering rules for transactions related to Malaysia's scandal-ridden state fund 1MDB.The … [Read more...] about Singapore’s central bank fines Credit Suisse, UOB over 1MDB-linked transactions
1 in 5 banks in Asia Pacific says tax evasion will double: Survey
Singapore - A recent poll conducted by data analytics firm FICO revealed that one in five banks in the Asia Pacific expects tax evasion in 2017 to increase 100 to 500 percent over last year's levels.Additionally, a further one in five senior fraud managers surveyed … [Read more...] about 1 in 5 banks in Asia Pacific says tax evasion will double: Survey
Singapore’s MyInfo now used by banks, ease KYC process
As part of Singapore’s initiative towards being a Smart Nation by leveraging technology to serve the nation better, MyInfo, a consent-based identity profile platform for Singaporeans or permanent residents, was launched by the Government Technology Agency (GovTech) and … [Read more...] about Singapore’s MyInfo now used by banks, ease KYC process