Issued under its Regulations and Financial Stability area, the new MAS form is a part of the Regulations and Guidance and Licensing function in relation to the securities, futures and funds market segment.
It covers those applying to become a recognised exchange or market operator, including those in the FinTech sector.
Special offers available for Black Friday via the link below have an interesting effect: if you fly from London or Manchester, a flight to SIN costs GBP490 but a flight to other destinations via SIN can cost less. The offers are across all classes.
On the face of it, a conviction for trafficking minors for sex may not seem like a financial crime. However, the proceeds generated by these and other sex-related crimes are subject to attack under money laundering laws, even if the activity takes place in one jurisdiction and the money is laundered in another.
It's long been an issue in the USA and it's spreading across the world as dozens of small towns in the UK can testify. Banks, which are not a public service, are closing (or not opening) branches in poor or small communities. The irony, some say, is that those are the very communities that most need physical banks. In the USA, several states are once more tackling the problem.
Yesterday, Singapore passed its Serious Crimes and Counter-Terrorism (Miscellaneous Amendments" Bill. The Lion City's approach to suspicious assets has logic on its side, but it doesn't work in practice. Here is WMLR's analysis of the relevant parts of the Act and its consequences, including risk for compliance / risk officers.
The city of New York has issued civil proceedings against five of the largest oil companies alleging that they are responsible for climate change and passing the resulting costs onto local governments. Others are joining in with California being the latest to sign up.
It's the old, old story: someone has what they think is a great idea then forces others to adopt it against their wishes, even when their wishes take into account their own security arrangements. This time, it's a bank and even they disclaim risks they force customers to accept. It's either a snafu in policy or a snafu in communications.
| 
| 
| 
| 
