Showing 4089 Documents for "payment services"
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- MAS
- Consultations
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- Such safeguards include ensuring that service providers continue to receive payment for their services. MAS Response 5.3 As part of the RRP process, MAS would already be engaging FIs to ensure that arrangements for operational continuity of essential services and functions are in place.
- MAS
- Speeches
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- MAS Board Members, Industry Partners, Distinguished Guests, 1. I am happy to be here today to share with you the road ahead for our financial services sector. 2. Singapore has come a long way in finance. a. We emerged as an international financial centre in the sixties with the establishment and rapid growth of the Asian Dollar Market. b. Over the decades, we’ve anchored reputable banks and other financial institutions here, and developed strengths in the capital markets, reinsurance, and wealth
- PDPC
- Practical Guidance
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- Clarification on the applicability of the credit bureau exception to the organisation’s operations and services provided, and guidance on the handling of personal data and measures the organisation may take to better ensure compliance with its obligations under the PDPA. Click here to find out more. GUIDANCE NOTE ON APPLICATION OF THE PERSONAL DATA PROTECTION ACT 2012 TO ISSUES AND CIRCUMSTANCES RAISED BY A CREDIT BUREAU 1. INTRODUCTION 1.1 This document responds to a request
- MAS
- Media Releases
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- While offering variety and choice for consumers, this has also led to a perceived fragmentation of payment services. 5 MAS proposes to establish a National Payments Council to coordinate key initiatives such as promoting interoperability and adopting common standards.
- services, including stored value facility holders, remittance companies, and virtual currency intermediaries.
- advent of FinTech, the lines between payments and remittance are blurring; new payment providers are emerging and some do not fit neatly into these categories. 3 MAS proposes to bring these regulations under a single framework that will provide for the licensing, regulation and supervision of all payments
- MAS
- External Publications
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- The ACIP best practice papers highlight the “red flag” customer behaviours or transaction patterns that financial institutions can look out for to detect illicit financial activities. Find out more about the best practices which ACIP has recommended as best practices for financial institutions to guard the misuse of company structures for illicit purposes. AML/CFT INDUSTRY PARTNERSHIP Legal Persons Misuse Typologies and Best Practices May 2018 -------- Legal Persons
- MAS
- Speeches
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- 1 Mr Speaker, on behalf of the Minister-In-Charge of MAS, I beg to move, “That the Bill be now read a second time”. 2 The Bill makes amendments to the Currency Act in two areas. First, the legal tender limits for coins. Second, the offence of mutilation of currency notes, to enable the Ministry of Home Affairs (MHA) to license companies that sell Intelligent Banknote Neutralisation Systems (IBNS) or offer cash transportation services using IBNS. Legal Tender Limits for Coins 3 First, the legal
- MAS
- Notices
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- financing risks; SFA means the Securities and Futures Act 2001; [MAS Notice 1014 (Amendment) 2022] [MAS Notice 1014 (Amendment) 2022] specified payment service means any of the following service: a digital payment token service; a digital payment token transfer service; a custodian wallet
- Act; [MAS Notice 1014 (Amendment) 2022] [MAS Notice 1014 (Amendment) 2022] 1 In the case of a limited liability partnership or a limited partnership 4 -------- digital payment token service has the same meaning as defined in section 2(1) of the PS Act; [MAS Notice 1014 (Amendment)
- Protection Act 2012 (Act 26 of 2012); PS Act means the Payment Services Act 2019; [MAS Notice 1014 (Amendment) 2022] [MAS Notice 1014 (Amendment) 2022] (a) (b) (c) reasonable measures means appropriate measures which are commensurate with the level of money laundering or terrorism
- MAS
- Media Releases
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- Singapore, 29 October 2021… The Monetary Authority of Singapore (MAS) announced today the finalists for the Global FinTech Hackcelerator, as well as the Singapore FinTech Festival (SFF) Global FinTech Awards. These Awards are among the key highlights of SFF 2021, which will take place from 8 to 12 November 2021. Global FinTech Hackcelerator 2021 2 The theme for this year’s Global FinTech Hackcelerator is “Harnessing Technology to Power Green Finance”. The 20 finalists, comprising FinTech firms and
- MAS
- External Publications
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- The initial investment in small amounts (in many cases no more than EUR 250) was made from the victims bank account, credit card or via other means to various payment services and then ending up in the hands of the criminals.
- MAS
- Parliamentary Replies
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- Such DPT service providers are regulated by MAS to address money laundering, terrorist financing, and technology risks. Whether the DPT service providers can address these risks robustly is a key consideration in licensing them to operate in Singapore.
- Going forward, MAS plans to introduce some basic investor protection measures for DPT service providers which are licensed in Singapore.
- MAS has explained its approach to regulating financial institutions providing cryptocurrency services, also known as digital payment token (DPT) service providers, in Singapore. 10.