The Business Times

Terrorism financing

Companies & Markets

Bank of Singapore’s new AI tool does in one hour what used to take 10 days

MAS says Atrium Asia Investment Management's key breaches of its anti-money laundering and countering the financing of terrorism requirements are attributable to the company's chief executive, Mintarja Oei.
Companies & Markets

MAS fines investment firm S$1.9 million for making big customer transactions without adequate checks

The Anti-Money Laundering Audit Peer Group aims to promote engagement with the Monetary Authority of Singapore and the wider audit community on key AML/CFT risk areas.
Companies & Markets

ABS partnership outlines best practices for anti-money laundering audits in banks

DPT service providers in other jurisdictions were found to have run afoul of the law in recent months.
Economy & Policy

Digital payment token service providers at higher risk of facilitating terrorism financing

NGOs say Prime Minister Narendra Modi’s government has misused counter-terrorism laws over the years to target them and policy think tanks.
International

India passes anti-money laundering review despite concerns

Speaking to reporters on Tuesday (May 7), a senior official from the US Treasury Department said Russia, which is now “shut out of many of their traditional supply chains”, is turning to more places like South-east Asia to “find what they need”.
ASEAN Business

South-east Asia increasingly used for illicit money flows, terrorist financing: US Treasury official 

The Monetary Authority of Singapore says Swiss-Asia Financial Services has since “taken the necessary remedial actions” to address its deficiencies.
Companies & Markets

Swiss-Asia Financial Services fined S$2.5 million for breaches of anti-money laundering rules

FILE PHOTO: The logo of the Monetary Authority of Singapore (MAS) is pictured at its building in Singapore February 21, 2013. REUTERS/Edgar Su/File Photo
Singapore

MAS tightens grip on digital payment token service providers with new user protection measures

OCBC, UOB, DBS, Citibank, HSBC and Standard Chartered are participating financial institutions on MAS' new Cosmic platform in its initial phase.
Companies & Markets

MAS launches centralised digital platform against money laundering, terrorism financing

Unregulated cryptocurrency exchanges have become "foundational pieces" of financial architecture used by organised crime in South-east Asia, a UN report says.
Companies & Markets

Illicit crypto addresses received at least US$24.2 billion in 2023: report

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