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- MAS
- Speeches
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- Distinguished guests, ladies and gentlemen. Thank you very much for joining us at the launch of the tripartite advisory on human capital practices for banking . 1 Let me begin with a quick overview of Budget 2018 to set the context of my speech. When Finance Minister Heng Swee Keat delivered the Budget a couple of weeks ago, he talked about the three big shifts that are coming our way. First, the shift of global economic weight towards Asia; Second, the emergence of new technologies; and Third
- MAS
- Speeches
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- Distinguished guests, ladies and gentlemen, good morning. Singapore has embarked on a journey to become a Smart Nation . We want to embrace innovation and harness technology so as to increase the productivity of our businesses and enhance the welfare of our citizens. The financial services sector is well placed to play a leading role in the Smart Nation project. MAS has been partnering the financial industry to create a Smart Financial Centre , where innovation is pervasive and FinTech is used widely
- MAS
- Speeches
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- Good morning and thank you for joining us in person for the release of the MAS Annual Report. This year, I will focus my remarks on inflation. It is the key macroeconomic challenge facing the global economy, affecting countries ranging from the United States to Sri Lanka, as well as Singapore. The IMF’s latest projection for global inflation in 2022 is 7.4% . This would be the fastest rate of inflation in the last 25 years. Inflation is a pervasive economic ill – it affects everyone. The lower-income
- PDPC
- Public Consultations
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- October 4, 2017 Personal Data Protection Commission 460 Alexandra Road #10-02 PSA Building Singapore 119963 PUBLIC CONSULTATION FOR APPROACHES TO MANAGING PERSONAL DATA IN THE DIGITAL ECONOMY BSA | The Software Alliance1 (“BSA”) and the US-ASEAN Business Council2 (“US-ABC”) greatly appreciate this opportunity to comment on the changes to Singapore’s Personal Data Protection Act (“PDPA”), as proposed by the Personal Data Protection Commission (“Commission”) in its public consultation
- MAS
- Circulars
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- This Circular sets out industry good practices observed by MAS and supervisory guidance on the measures to mitigate risks associated with the use of non-face-to-face technologies for customer due diligence . FIs should read this Circular in conjunction with the relevant AML/CFT Notices and Guidelines in relation to CDD Measures for Non-Face-to-Face Business Relations, as well as MAS’ Circular of 8 January 2018 (AMLD 01/2018) on the use of Myinfo and CDD measures for NFTF business relations . 10
- MAS
- Macroeconomic Reviews
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- Presentation Slides for Briefing PDF (1.09 MB) Volume XVII, Issue 2 October 2018 -------- Volume XVII, Issue 2 October 2018 Economic Policy Group Monetary Authority of Singapore -------- ISSN 0219-8908 Published in October 2018 Economic Policy Group Monetary Authority of Singapore http://www.mas.gov.sg All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanised, photocopying,
- MAS
- Parliamentary Replies
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- QUESTION NO 2215 NOTICE PAPER 878 OF 2022 FOR WRITTEN ANSWER Date: For Parliament Sitting on 11 January 2022 Name and Constituency of Member of Parliament Ms Joan Pereira, MP, Tanjong Pagar GRC Question: To ask the Prime Minister what measures are there to assist and protect bank customers from losses and penalties suffered due to outages of licensed banks' online systems. Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS: 1 MAS requires financial institutions (FIs
- MAS
- Media Releases
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- Singapore, 14 November 2018… In a landmark year for financial cooperation between China and Singapore, four milestone agreements were concluded this week between financial regulators and between financial institutions (FIs) from both countries. The exchange of regulatory agreements was witnessed by Chinese Premier Li Keqiang and Singapore Prime Minister Lee Hsien Loong. Premier Li is in Singapore to attend the 33rd ASEAN Summit and related summits on 11 to 15 November 2018. 2 The agreements capped
- PDPC
- Undertakings
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- Background The Personal Data Protection Commission (the “Commission”) received a data breach notification on 17 July 2020 from Seafront Support Company Pte. Ltd. (“Seafront Support”) informing that a ransomware attack had rendered data on its server inaccessible. The personal data of approximately 400 to 500 individuals was lost in the incident. The affected datasets comprised the affected individuals’ full name, last 3 digits and checksum of their NRIC number, passport number, last 3 digits and
- PDPC
Last revised date:
- Background The Personal Data Protection Commission (the “Commission”) received a data breach notification on 17 July 2020 from Seafront Support Company Pte. Ltd. (“Seafront Support”) informing that a ransomware attack had rendered data on its server inaccessible. The personal data of approximately 400 to 500 individuals was lost in the incident. The affected datasets comprised the affected individuals’ full name, last 3 digits and checksum of their NRIC number, passport number, last 3 digits and