On 13 June 2019, Bank of England (BoE), FCA and the Monetary Authority of Singapore (MAS) published a joint press release announcing their intention to work together to strengthen cybersecurity in their financial sectors. The authorities plan to enter into a memorandum of understanding (MoU) to formalise the enhanced collaboration, which will identify effective ways […]

Singapore’s central bank has fined Standard Chartered Bank and Coutts for anti-money laundering breaches related to 1MDB and also plans to bar one prominent former Goldman Sachs banker from working in Singapore’s securities industry for 10 years owing to his involvement in the scandal surrounding the Malaysian state investment fund. The Monetary Authority of Singapore […]

The Monetary Authority of Singapore (MAS) has imposed multi-million dollar fines on the Singapore branches of Standard Chartered bank and Coutts & Co for breaching anti-money laundering regulations in relation to 1MDB-related fund flows through these banks, MAS said in a release on Friday (Dec 2). StanChart was fined S$5.2 million and Coutts was fined […]