Keep abreast of Ukraine news, report suspicious transactions: MAS tells banks
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Singapore
THE Monetary Authority of Singapore (MAS) has urged financial institutions (FIs) to keep abreast of developments in Ukraine and report any suspicious transactions and fund flows.
In a circular issued to chief executive officers of all FIs on Monday (Feb 28), MAS said FIs should take appropriate measures to manage any reputational, legal and operational risks arising from business activities and customer relationships affected by the unilateral sanctions other jurisdictions have imposed against Russia.
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