Search

Financial crimes

The action against Dr Kenneth Chua is the result of a joint investigation conducted by the Commercial Affairs Department and MAS.

MAS imposes S$120,000 penalty on doctor for insider trading of Singapore Medical Group shares

Dr Kenneth Chua had bought 210,000 shares in 2022 for a total of S$67,200

Controls that regulators still treat as the gold standard, such as SMS one-time passwords, are now near obsolete.

Opinion & Features

The AI threat is already within banks

South-east Asia’s lenders have handed credit, fraud and compliance decisions to autonomous technology

The complaints were submitted to the European Commission and national regulators under the Digital Services Act (DSA).

Google, Meta, TikTok face EU consumer complaints about handling of financial scams

It signifies growing pressure worldwide on Big Tech to do more to address the negative impacts of social media

The cases were investigated by the Monetary Authority of Singapore and the Commercial Affairs Department following referrals from Singapore Exchange.

Companies & Markets

Former OCBC trading rep, ex-GM of Sasseur Reit affiliate found guilty of trading offences

One is convicted of abetting false trading and the other, of engaging in insider trading

Ng Teck Lee is said to have made more than US$51 million from his schemes, which involved allegedly misappropriating electronic scrap meant for disposal.

Companies & Markets

Former Citiraya CEO hit with fresh charges spanning corruption, money laundering

New allegations shed more light on one of Singapore’s largest embezzlement scandals

Initiatives such as the Collaborative Sharing of Money Laundering/Terrorism Financing Information & Cases platform contribute to MAS’ risk-surveillance capabilities, according to a Financial Action Task Force report.

Companies & Markets

Singapore banks getting better at spotting dirty money, but penalties still lack bite, says global watchdog

FATF recognises role of Republic’s strong public-private cooperation and information collaboration in curbing money laundering

The Republic emerged with stronger ratings than its previous Financial Action Task Force assessment in 2016.

Singapore earns top rating in fight against financial crime despite shadow of S$3 billion money laundering scandal

Despite high marks, a global watchdog flags gaps in sanctions and oversight of certain sectors

The central bank says the proof-of-value exercise will lay the groundwork for deeper industry collaboration.

Banking & Finance

MAS partners banking industry to tap AI, machine learning to combat financial crime

It will use these techniques to enhance scam-detection capabilities

Court documents showed the largest sum of money Benjamin Chung Hiang Wee took was from his uncle, an odd-job worker.

Former manager with DBS Bank admits cheating 7 victims, including his uncle, of over S$1 million

[SINGAPORE] A former manager with DBS Bank has admitted to cheating seven victims, including his own uncle, of nearly S$1.4 million in total.

Gibran Huzaifah, founder of eFishery, allegedly engaged in financial misconduct, causing losses to the company and its investors.

Indonesia’s eFishery founder faces verdict in fraud case over alleged 70 billion rupiah losses

Prosecutors have sought a 10-year prison term and fine of 1 billion rupiah for Gibran Huzaifah

Latest T-bills Treasury Bills Results & Interest News Latest SSB Singapore Savings Bonds News Latest COE Certificate of Entitlement News

Latest Johor-Singapore SEZ News Latest BTO Build To Order & Sales of Balance News Latest STI Straits Times Index News Latest SGX Dividends, Share Price News Latest Bonds Market News Latest Singapore Stocks To Buy News Latest Singapore Economy News

View More