Tag "Monetary Authority of Singapore (MAS)"

MAS Beefs up Guidelines to Strengthen Banks Against Service Disruptions

The Monetary Authority of Singapore (MAS) has issued revised guidelines on Business Continuity Management (BCM) for financial institutions (FIs). The move aims to help FIs strengthen their resilience against service disruptions arising from IT outages, pandemic outbreaks, cyber-attacks and physical

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Emergency “Kill Switch” Among Security Measures Pushed by MAS to Combat Fraud

An emergency self-service “kill switch” to suspend their bank accounts quickly if it has been compromised are among the additional measures that are being pushed by the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS).

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MAS Launches Project Guardian to Pilot Use Cases in Digital Assets

The Monetary Authority of Singapore (MAS) announced the launch of Project Guardian, a collaborative initiative that seeks to explore the economic potential and value-adding use cases of asset tokenisation. Project Guardian will test the feasibility of applications in asset tokenisation

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MAS’ Global Fintech Hackcelerator for 2022 Highlights Web 3.0 and Green Finance

The Monetary Authority of Singapore (MAS) has launched the 7th edition of the Global Fintech Hackcelerator, with the theme “Accelerating A Greener Digital Future”. The competition, powered by Oliver Wyman, seeks to leverage the potential of fintech in accelerating the

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OCBC Hit With S$330 Million Additional Cap Requirement After Phishing Scam

The Monetary Authority of Singapore (MAS) has imposed an additional capital requirement of approximately S$330 million on OCBC Bank. The regulator said that this move was in response to the deficiencies in the bank’s response to a wave of spoofed

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Singapore, Switzerland Join Forces to Promote Data Connectivity for Financial Services

The Swiss State Secretariat for International Finance (SIF) and the Monetary Authority of Singapore (MAS) jointly issued a statement of intent to promote data connectivity for financial services. SIF and MAS said that they recognise the importance of a sound regulatory

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MAS: Over 9000 Job Opportunities to Be Created in the Financial Sector This Year

The Monetary Authority of Singapore (MAS) estimates that there will be more than 9,400 new hiring opportunities for permanent roles in the financial sector in 2022 as the country is now home to over 50 global and regional innovation labs

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STACS Officially Launches ESGpedia Powering MAS’ ESG Registry

Hashstacs (STACS), a blockchain-based fintech firm focused on Environmental, Social, and Governance (ESG), has developed and officially launched its ESGpedia registry platform. ESGpedia aims to improve sustainability data quality to support more effective sustainable finance. The registry was launched with

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MAS’ Ravi Menon Lays out Expectations for Crypto Operators

Crypto service providers need to have the ability to manage the risks, said Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS) at the Financial Times’ Crypto & Digital Assets Summit. He mentioned that there are four risks

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Luno Secures MAS’ In-Principle Approval to Offer Crypto Services

Global cryptocurrency company Luno has been granted in-principle approval from the Monetary Authority of Singapore (MAS) under the Payment Services Act (PSA) to provide Digital Payment Token (DPT) services in Singapore. MAS has granted in-principle approvals to Coinhako, Hodlnaut, Paxos, Digital

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