The Monetary Authority of Singapore said it will closely monitor DBS’ progress on the remaining deliverables and the effectiveness of the measures implemented.
45-year-old laundered a total of $36m, the most among five people convicted thus far.
Bank of Singapore reportedly fired up to 40 of its staff over medical insurance claims that infringed the bank’s medical policy.
This makes him the sixth accused to indicate a guilty plea in the more than S$3 billion money laundering case.
MAS Response Date: 28 March 2024
A major financial fraud trial has begun in Vietnam, involving Truong My Lan, chair of the prominent developer Van Thinh Phat, and 85 other defendants. Lan is accused of embezzling $12.5 billion from Saigon Commercial Bank (SCB) over a decade, making it the country's largest financial fraud case.
The Monetary Authority of Singapore recently announced its intention to repeal the regulatory regime for Registered Fund Management Companies (“RMFC”) on 1 August 2024. This update highlights key points RFMCS should note and action to prepare for the repeal of the RFMC regime.
Property agents and observers say existing measures may not be foolproof amid a lack of resources, manpower and expertise.
Ant Group, backed by Jack Ma, has reportedly outbid Citadel Securities for Credit Suisse's investment bank venture in China.
Credit And Security — Money and moneylenders
The Monetary Authority of Singapore has responded to feedback on its proposal to repeal the regulatory regime for Registered Fund Management Companies (RFMCs) and application of such RFMCs to become Licensed Fund Management Companies (LFMCs). This article sets out the timing of repeal and application process, details in relation to the application form, considerations in reviewing applications, continuity of operations, applicable requirements and unsuccessful applicants.
This update highlights developments relating to the launch of the Singapore Sustainable Finance Association by the Monetary Authority of Singapore and the expansion of the Enterprise Financing Scheme – Green announced during Budget 2024.
This article highlights three key FinTech trends in Singapore in 2023 which saw the Monetary Authority of Singapore actively taking the lead in numerous areas, including the launch of the Orchid Blueprint.
MAS Response Date: 2 April 2024
MAS Response Date: 2 April 2024
GST charged on the affected transactions ranged from below $1 to about $1,500.