Monetary Authority of Singapore - News, Articles & Research

Company announcement/identity

MAS consults on ID verification

The Monetary Authority of Singapore (MAS) today issued a consultation paper on the types of information required for non-face-to-face verification of an individual’s identity.

10 November 2020

Company announcement/security

Singaporean financial institutions ordered to review security controls in light of Covid-19

The Monetary Authority of Singapore (MAS)'s Cyber Security Advisory Panel (CSAP) [1] stressed the need for financial institutions (FIs) to review their security controls given the elevated technology-related risks arising from remote working and safe management measures due to the COVID-19 pandemic.

10 November 2020

Company announcement/regulation

MAS launches $35 million grant to help smaller banks streamline regulatory reporting

The Monetary Authority of Singapore (MAS) announced today the launch of a S$35 million Productivity Solutions Grant (PSG) for the financial services sector to help smaller financial institutions adopt digital solutions for more streamlined data reporting to MAS.

09 November 2020

News/crime

MAS to stop issuing $1000 note

The Monetary Authority of Singapore (MAS) is to discontinue the issuance of large denomination $1,000 notes in an effort to curb money laundering.

03 November 2020

News/sustainable

Big banks give backing to Singapore Green Finance Centre

The Monetary Authority of Singapore and nine international banks have leant their weight to the establishment of a research institute dedicated to green finance research and talent development.

13 October 2020

News/regulation

Singapore shuts down Wirecard operations

Singapore's central bank has ordered Wirecard to cease all business and return all customer funds within the next two weeks.

30 September 2020

Company announcement/startups

MAS doubles down on fintech innovation support

The Monetary Authority of Singapore (MAS) today announced that it will commit S$250 million over the next three years under the enhanced Financial Sector Technology and Innovation Scheme (FSTI 2.0) to accelerate technology and innovation-driven growth in the financial sector.

13 August 2020

News/retail

Singapore establishes Asian Institute of Digital Finance

The Monetary Authority of Singapore is to set up a specialist research institute to groom the next generation of fintech leaders.

04 August 2020

Company announcement/startups

Singapore fintech festival to be week-long hybrid digital and physical event

The Monetary Authority of Singapore (MAS) and Enterprise Singapore announced that the Singapore FinTech Festival (SFF) x Singapore Week of Innovation & TeCHnology (SWITCH) will expand to become the world’s first week-long round-the-clock, hybrid digital and physical event.

03 August 2020

News/payments

MAS ready for live deployment of DLT-led payments

The Monetary Authority of Singapore is looking ahead to live deployment of blockchain technology for multi-currency payments after successfully completing a fifth and final phase of testing with JPMorgan and Temasek.

13 July 2020

Company announcement/regulation

Singapore investigates Citadelle and Senjo Group over Wirecard scandal

The Commercial Affairs Department (CAD) of the Singapore Police Force and the Monetary Authority of Singapore (MAS) have launched a joint investigation into Citadelle Corporate Services Pte Ltd (“Citadelle”), Senjo Group Pte Ltd and its subsidiaries (“Senjo”) for suspected falsification of accounts under the Penal Code (Cap 224), as well as carrying on a trust business without a licence under the Trust Companies Act (Cap 336).

03 July 2020

Company announcement/regulation

MAS keeps watchful eye on Wirecard in Singapore

The Monetary Authority of Singapore (MAS) said today that Wirecard entities in Singapore (“Wirecard”) have complied with MAS’ directions to hold customers’ funds in segregated accounts with banks in Singapore.

01 July 2020