Monetary Authority of Singapore
Singapore banks are phasing out OTPs for logins
Singapore banks are phasing out OTPs for logins
Banks will instead use digital tokens to authenticate bank account login attempts.
Banks most vulnerable to illegal trade financing – MAS
Env Crimes generate between $110b-$281b in criminal gains yearly.
Singapore expands scope of guidelines on fair dealing
It now covers all financial institutions and all the products and services offered.
Singapore, Japan renew bilateral swap arrangement
Singapore can swap up to $3b whilst Japan can swap up to US$1b.
MAS not extending pause on DBS’ non-essential activities
DBS will still keep the 1.8x multiplier in risk weighted assets, however.
MAS eyes enhanced safeguards for elderly and non-english proficient financial clients
Authorities aim to implement enhancements no later than H2 2025.
MAS expands regulations for digital payment token service providers
It will impose requirements for anti-money laundering and user protection.
'Tighter' financial conditions to weigh on Singapore's lending market: MAS
Risks include high inflation, geopolitical tensions, and spillovers from China's economic situation and global real estate market strains.
Ex-CEO, directors of Envision Wealth Management charged by MAS
They allegedly committed offences against the Securities and Futures Act, amongst others.
MAS investigating Samlit for allegedly failing to remit money to China
The money changer is suspected of failing to comply with obligations as a licensed payment service provider.
Singapore warns of scammers impersonating central bank officers
About 41 individuals have fallen victim to scammers, with $2.6m in losses.
MAS unveils multi-sector transition taxonomy
This is the first taxonomy globally to pioneer the concept of a “transition” category.
MAS unveils responses for proposed regulation of DPT service providers
Regulations are expected to take effect in phases beginning mid-2024.
Singapore to pilot use of wholesale CBCDs in 2024: Menon
MAS is also rolling out GPRNT.AI, an ESG data platform for financial institutions.
MAS and Bank Indonesia extend bilateral financial arrangement until 2024
The agreement between both central banks was extended to 2 November 2024.
8 in 10 Singaporeans approve of proposed phishing scam accountability framework: poll
Over 4 in 5 says that financial institutions should be held most accountable for scams.
DBS prohibited from buying new businesses or closing branches for 6 months
MAS will review progress after six months and may choose to extend the measures.
Thought Leadership Centre
Most Read
1. Mizuho to acquire majority of Upsider’s shares for $309.8m 2. SMBC appoints Joy Kwek to lead capital markets & solutions in APAC 3. NAB invests $55m to upgrade over 100 branches across Australia 4. Airwallex gains capital markets services license in Singapore 5. Standard Chartered HK automates onboarding processes of SMEsResource Center
Read Here
Advertise
Sign Up
Event News
It continues to lead Taiwan’s banking sector by leveraging behavioural insights, advanced AI, and a strong focus on personalised service.
Commentary
What kids without wallets can teach us about the future of finance
What is best practice when setting up an in-house bank?
How technology and regulation are reshaping the lending landscape
Protecting against the mobile Trojan horse in your pocket
Beyond the code: How mobile banking is weaving a new financial narrative in Asia