MAS, police tighten coordination for Prince Holding Group probe

MAS said FIs have filed early alerts and shut suspect accounts, limiting fund exposure.

The Monetary Authority of Singapore (MAS) said it is working with the police through the Anti-Money Laundering Case Coordination and Collaboration Network (AC3N) to follow up on the case involving Prince Holding Group.

MAS said financial institutions had filed suspicious transaction reports early and several had closed accounts identified as high risk. These steps prevented larger sums from being held in Singapore’s financial system.

The regulator said it will continue working closely with the police and will conduct supervisory reviews of financial institutions linked to the case.

MAS Assistant Managing Director for Policy, Payments and Financial Crime, Loo Siew Yee, said the authority remains focused on combating illicit fund flows through collaboration with law enforcement agencies, financial institutions, and international counterparts to protect the integrity of Singapore’s financial system.