Tag "Monetary Authority of Singapore (MAS)"
Singapore Pledges S$35 Million in Sustainable Finance Skills Development
The Monetary Authority of Singapore (MAS), in collaboration with the Institute of Banking and Finance (IBF) and Workforce Singapore (WSG), has launched the Sustainable Finance Jobs Transformation Map (JTM). This initiative outlines the necessary skills updates for the local financial
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MAS and Mastercard Partner to Strengthen Financial Sector Cybersecurity
The Monetary Authority of Singapore (MAS) and Mastercard have signed a Memorandum of Understanding (MoU) to bolster cybersecurity within the financial services sector. The partnership is built on a foundation of bilateral information sharing of cyber threat intelligence, aiming to
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Money Lock Safeguarded S$6.6B Across Over 78,000 Singapore Accounts
Since the launch of the Money Lock feature by three local banks – OCBC, DBS, and UOB – in November, over 78,000 accounts have been established with more than S$6.6 billion of savings securely set aside as of March 2024.
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MAS Bolsters Crypto Payment Rules, Here’s What You Need to Know
The Monetary Authority of Singapore (MAS) has announced revisions to the Payment Services Act (PS Act) and related regulations, marking a significant expansion in the regulation of payment services within the country. The amendments, which are set to be implemented
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COSMIC Platform Goes Live in Singapore to Combat Financial Crime
The Monetary Authority of Singapore (MAS) has officially rolled out the COSMIC platform, a digital initiative aimed at bolstering the defense against money laundering, terrorism financing, and the proliferation of weapons of mass destruction. The system, which became operational today
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Singapore Continues Suspension to Safeguard Remittances to China
The Monetary Authority of Singapore (MAS) has announced an extension to the ongoing suspension affecting remittances to China. This suspension, now extended until 30 September 2024, pertains to the use of non-approved channels by remittance companies for transferring funds to
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MAS to Launch Revised Fair Dealing Guidelines for Greater Consumer Protection
The Monetary Authority of Singapore (MAS) is set to update its Guidelines on Fair Dealing within the coming weeks, signaling a major step towards enhancing customer protection across all financial sectors. Announced by Ho Hern Shin, Deputy Managing Director (Financial
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Over 61,000 Singaporeans Utilise “Money Lock”, Safeguarding Over S$5.4 Billion
More than 61,000 Singaporean bank accounts have utilised the “Money Lock” feature since its launch in November 2023, with over S$5.4 billion set aside for protection against digital theft. Alvin Tan, Minister of State for the Ministry of Trade and
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Singapore Sees Progress in Fight Against Phishing with Stronger Bank Safeguards
Singapore’s fight against phishing scams saw notable progress in 2023, with a reported 16% decrease in cases and a 14% reduction in financial losses compared to the previous year. This improvement is attributed to the concerted efforts of the Monetary
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MAS and Singapore Police Probe Samlit Moneychanger Amid Fraud Allegations
A major investigation is underway in Singapore involving the police and the Monetary Authority of Singapore (MAS) against two key figures of Samlit Moneychanger, a licensed payment services provider. A 43-year-old woman, serving as the Director, and a 34-year-old man,
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