The Monetary Authority of Singapore launched a consultation on its plan to introduce a digital platform that enables financial institutions to share relevant information on customers and suspicious transactions with each other in order to prevent money laundering and terrorist financing.
The Monetary Authority of Singapore issued a consultation paper seeking comments on its plan to introduce a digital platform and regulatory framework for financial institutions to share customer and transaction information to prevent money laundering, terror financing and proliferation financing.
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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|