Events listed in Corruption
Circular on ensuring effective detection of sanctions-related risks
ID 24782
In an effort to ensure that ALL Financial Institutions (FIs) in Singapore effectively detect and manage sanctions-related risks, thereby safeguarding the integrity of Singapore’s financial market, the Monetary Authority of Singapore (MAS) has published a corresponding new circular. In this circular, the Authority presents additional guidance FI’s should consider in the design of their processes to ensure adequate detection, management, and monitoring of such ...
Strengthening AML/CFT controls on risks of misuse of legal persons/arrangements and ...
ID 24771
The Monetary Authority of Singapore, MAS, has published a new guidance entitled “Strengthening AML/CFT controls and practices to detect and mitigate risks of misuse of legal persons/arrangements and complex structures“. The publication follows an inspection of several financial institutions (FIs) during which MAS noted issues concerning the identification of beneficial owners in complex structures and the intermediation of questionable fund flows, thereby potentia ...
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