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- MAS
- External Publications
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- Financial Action Task Force (FATF)'s guidance for implementing the risk-based approach for trust and company service providers The Financial Action Task Force (FATF) published in June 2019 a “Guidance for a Risk-Based Approach for Trust and Company Services Providers” (FATF Guidance). The FATF Guidance can be found at the FATF website: https://www.fatf-gafi.org/media/fatf/documents/reports/RBA-Trust-Company-Service-Providers.pdf . 2 The FATF Guidance supports the implementation of a risk-based
- MAS
- Circulars
Last revised date:
- MAS conducted an industry-wide survey of Variable Capital Companies (VCCs) and a series of thematic engagements of eligible financial institutions (EFIs) to assess the effectiveness of their AML/CFT risk management and controls. This Circular sets out MAS’ key observations and supervisory expectations for effective AML/CFT frameworks and controls that VCCs and their appointed EFIs should note. VCCs should read this Circular in conjunction with the MAS Notice VCC-N01 [1] and Guidelines to Notice VCC-N01
- MAS
- External Publications
Last revised date:
- Financial Action Task Force (FATF) report on red flag indicators to assist financial institutions in identifying and reporting potential money laundering and terrorist financing activities involving virtual assets The Financial Action Task Force (FATF) published in September 2020, a FATF report on “Virtual Assets – Red Flag Indicators of Money Laundering and Terrorist Financing” (FATF Report). The FATF Report can be found at the FATF website: https://www.fatf-gafi.org/content/dam/fatf-gafi/reports
- MAS
- Guidance
Last revised date:
- MAS conducted an industry-wide survey of CFT-related controls, and followed up with a series of thematic reviews to assess FIs’ TF risk understanding and examine the effectiveness of their CFT-related controls. This paper sets out MAS’ key observations, and highlights our supervisory expectations that FIs should review against their own controls. FIs should benchmark themselves against the practices and supervisory expectations set out in this paper in a risk-based and proportionate manner, and conduct
- MAS
- External Publications
Last revised date:
- FATF’s guidance for implementing the risk-based approach for virtual assets and virtual asset service providers The Financial Action Task Force (FATF) published in June 2019 a “Guidance for a Risk-Based Approach for Virtual Assets and Virtual Asset Service Providers” (FATF Guidance) 1 . In October 2021, the FATF updated its 2019 Guidance as part of its ongoing monitoring of the virtual assets (VAs) and virtual assets service provider (VASP) sector, and to provide further clarification of the FATF
- MAS
- External Publications
Last revised date:
FATF Paper on COVID-19-related Money Laundering and Terrorist Financing – Risks and Policy Responses- Good practices and challenges in the mitigation of new money laundering and terrorist financing threats and vulnerabilities arising from the COVID-19 crisis. The Financial Action Task Force (FATF) published a paper on COVID-19-related Money Laundering (ML) and Terrorist Financing (TF) – Risks and Policy Responses. The paper can be found at the FATF website: https://www.fatf-gafi.org/media/fatf/documents/COVID-19-AML-CFT.pdf 2 This paper was developed in response to the unprecedented and rapidly
- MAS
- External Publications
Last revised date:
- On 29 June 2021, the Financial Action Task Force (FATF) published the “Guidance on Proliferation Financing Risk Assessment and Mitigation” (FATF Guidance). The FATF Guidance can be found at the FATF website: http://www.fatf-gafi.org/publications/financingofproliferation/documents/proliferation-financing-risk-assessment-mitigation.html 2 The FATF recently revised its Standards to require countries, financial institutions (FIs) and designated non-financial businesses and professions (DNFBPs
- MAS
- Guidelines
Last revised date:
- Guidelines for variable capital companies on Notice VCC-N01 for the prevention of money laundering and countering the financing of terrorism Pursuant to the Variable Capital Companies Act (Act 44 of 2018) (“VCC Act”) and Notice VCC-N01 on Prevention of Money Laundering and Countering the Financing of Terrorism - Variable Capital Companies (“Notice VCC-N01”), MAS is introducing Guidelines to Notice VCC-N01 (“the Guidelines”). The Guidelines set out MAS’ supervisory expectations and addresses the relationship
- MAS
- Guidelines
Last revised date:
- Guidelines for offers of securities, securities-based derivative contracts and units in collective investment schemes made through the Internet. The Guidelines relate to statutory requirements for a prospectus, offer information statement and product highlights sheet for offers made through the Internet, including internet banking platforms and mobile applications, and where specified, offers made using automated teller machines. The Guidelines also cover security issues concerning electronic versions
- MAS
- Parliamentary Replies
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- QUESTION NO 869 NOTICE PAPER 348 OF 2021 FOR WRITTEN ANSWER Date: For Parliament Sitting on 5 April 2021 Name and Constituency of Member of Parliament Mr Desmond Choo, MP, Tampines GRC Question: To ask the Prime Minister (a) how large is the crypto asset market in Singapore; (b) how does MAS view the trend of greater transactions of such assets amongst companies and retail investors; and (c) how are crypto asset exchanges regulated to provide a stable and benign trading environment in Singapore.