The Monetary Authority of Singapore published a report outlining the responses to a consultation the regulator launched in October 2020 concerning amendments to the regulations and notices applicable to licensed credit bureaus and approved members, including cybersecurity requirements.
The Monetary Authority of Singapore issued draft anti-money laundering notices for use under the regulator’s proposed exemption framework for cross-border business arrangements involving foreign head offices, and called for industry feedback.
JPMorgan Chase ordered to hand over records on suspicious payments, Danske Bank Estonia served hundreds of U.S. clients, and more, in the midweek roundup.
Maltese FIU to shift from AML fines to remediation, Swedish gaming company challenges $175 million penalty, and more, in the midweek roundup.
The Monetary Authority of Singapore imposed a S$1 million fine against the Singapore Branch of the Basel, Switzerland-based financial institution for failing to comply with anti-money laundering and counterterrorist financing requirements.
The Monetary Authority of Singapore issued a decision to ban Kevin Michael Swampillai, the former head of the Wealth Management Services Department of BSI Bank Limited, Singapore Branch, for his conviction of money laundering charges.
|Compliant : 20||High :|
|Largely Compliant : 17||Substantial : 4|
|Partially Compliant : 3||Moderate : 6|
|Non-Compliant : 0||Low : 1|
Singapore's technical compliance was re-rated in a Nov. 18, 2019 follow-up report
|Rank : 102/141|
|Score : 4.56/10|
|Rank : 4/180|
|Score : 85/100|
|Rank : 5/133|
|Score : 65/100|