June 2025 FATF Statement The Financial Action Task Force (FATF) has issued its latest update on countries with serious anti-money laundering and countering the financing of terrorism (AML/CFT) deficiencies. The Democratic People’s Republic of Korea (DPRK) and Iran remain on FATF’s list of “High-Risk Jurisdictions and subject to Call for...

The Monetary Authority of Singapore (MAS) imposed civil penalties on five individuals—Mr. Aw Yong Leon Heng, Mr. Neo Say Hwee, Mr. Chang Bing Quan Daryl, Mr. Cheng Jia Hong, and Mr. Tan Keng Cheng for engaging in false trading and unauthorised use of trading accounts. Their actions were carried out...

MAS has set out guidance and highlights the good practices to enhance the effectiveness of financial institutions’ (FIs’) Anti-Money Laundering/Counter Financing Terrorism (“AML/CFT”) audit to provide an independent and regular assessment of the effectiveness of their AML/CFT policies, procedures and controls, and compliance with MAS’ requirements. The Company should take...

As per the state Court of Singapore Mr. Pan was engaged in a business that operated as fraud under the Securities and Futures Act. Mr. Qi is prohibited from doing: – Any regulated activity Taking part in the management Acting as a director Mr. Qi cannot become a substantial shareholder...

MAS has observed the following breaches: –• Mr. Chong was not performing the financial advisory and capital markets services honestly. Mr. Chong is prohibited from doing: –• Any financial advisory service • Taking part in the management• Acting as a directorMr. Chong cannot become a substantial shareholder of any financial...

Understanding the Fair Dealing Guidelines The Monetary Authority of Singapore (MAS) has recently updated its Fair Dealing Guidelines, effective from May 30, 2024. The Fair Dealing Guidelines are a set of principles aimed at promoting fairness in the financial industry. The Board of Directors and Senior Management of financial institutions...