The Inter-Ministerial Committee (IMC) on Anti-Money Laundering (AML) released a report to share our findings and recommendations following a review of Singapore’s AML framework. The IMC review, which drew lessons from the major money laundering (ML) case in August 2023, was convened to ensure that Singapore’s system remains relevant against increasingly sophisticated criminal tactics. The IMC’s recommendations enhance Singapore’s framework to combat ML, while remaining welcoming of the large majority of businesses, which are law-abiding and legitimate. The IMC’s recommendations and accompanying measures will strengthen the three key prongs underpinning Singapore’s AML framework – “Proactive Prevention, Timely Detection, Effective Enforcement”. The overarching strategy is a whole-of-society approach. Relevant stakeholders who are part of our frontline of defence need to work collaboratively with the Government. Read the full report here: https://lnkd.in/g7gKMzn6
Monetary Authority of Singapore (MAS)
Banking
The Monetary Authority of Singapore is the central bank of Singapore.
About us
MAS is at the forefront of Singapore’s rapidly growing financial industry, creating new policies and initiatives that address the ever-changing landscape. Work at MAS promises not only challenges worthy of your intellectual abilities, but also the personal satisfaction that comes from building one of Asia’s premier financial hubs. We invite you to take up the challenge and make a difference to Singapore’s economic and financial development! At MAS, we place a great emphasis on developing a vibrant and conducive work environment that motivates each and every employee to make a meaningful contribution to the organisation. Our people recognize the importance of upholding our values to achieve more together. We believe that it is essential that our people enjoy working here with one another. MAS' Functions - To act as the central bank of Singapore, including the conduct of monetary policy, the issuance of currency, the oversight of payment systems and serving as banker to and financial agent of the Government - To conduct integrated supervision of financial services and financial stability surveillance - To manage the official foreign reserves of Singapore - To develop Singapore as an international financial centre
- Website
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http://www.mas.gov.sg
External link for Monetary Authority of Singapore (MAS)
- Industry
- Banking
- Company size
- 1,001-5,000 employees
- Headquarters
- Singapore
- Type
- Government Agency
Locations
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Primary
10 Shenton Way MAS Building
Singapore, 079117, SG
Employees at Monetary Authority of Singapore (MAS)
Updates
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At the Asian Financial Leaders Programme Graduation Dinner yesterday, Mr Alvin Tan, Minister of State, Ministry of Culture, Community and Youth & Ministry of Trade and Industry, and Board Member of MAS announced that MAS will launch two new leadership programmes in 2025 and introduce a new Group Track under the International Postings Programme to further support and encourage financial institutions to send Singaporean leaders for overseas postings. Read the speech: https://lnkd.in/gXaA-pwe Find out more about the programmes here: • International Postings Programme (iPOST): https://lnkd.in/g-a-T7w5 • Asian Financial Leaders Scheme (AFLS): https://lnkd.in/gDyYdfcz
🇸🇬 Minister of State for Trade & Industry, Culture, Community & Youth, Board Member of the Monetary Authority of Singapore and Member of Parliament for Tanjong Pagar GRC
🧑💼💫We are committed to grow our financial sector leaders to further strengthen Singapore as a premier financial centre. Like Daphne Chan, CFA, CPA(Aust) who is now CEO of Goldman Sachs Asset Management Singapore. We were colleagues at Goldman 10 years ago and I’m so proud of her achievements! 💬At last night’s Asian Financial Leaders Programme (AFLP) graduation dinner, I shared why financial leaders are important, what they can do and how we can grow financial leaders in Singapore. ❗️Why are financial leaders important? Good financial leaders can help us make sense of an uncertain world, deploy capital for impact and manage risks. They channel growth and capital into investment that can make a financial and environmental and social impact. What can financial leaders do? 🌉They can be bridge builders, connecting global markets to Asia and bringing Asian perspectives to the global stage. 🌁 They can find new ways to partner and collaborate, in areas such as payments and sustainable finance. 📚How we can grow financial leaders? Programmes like AFLP can help. AFLP is supported by Monetary Authority of Singapore (MAS)’s Asian Financial Leaders Scheme (AFLS), to equip Singaporean leaders in finance with skills to work with businesses across regions and navigate diverse legal environments. 📈Just as our leaders in the financial sector keep growing, we will continue to support them. 1️⃣ MAS will add two new leadership programmes under AFLS, with one programme targeted at Managing Director and above seniority levels, and another targeted at high potential middle-level professionals. We will launch these programmes in 2025. 2️⃣ MAS will also introduce a new Group Track under the International Postings Programme (iPOST). MAS will partner financial institutions 🏦 to commit upfront a larger number of Singaporeans to send on overseas postings for international exposure 🌍, in exchange for more flexibility and extended funding support. 🎓Congrats once again, to all the graduates! Akhil Doegar | Alice Toh | Alisa Chhoa | Amy Tan | Andrew Boey | Ang Mo Chuan | Annie Lee | Benedict Tan, IBF Fellow | Benny Chan W L | Cathryn Ho | Cherie Teng | Christie Chu | Chua Bee Geok | Chua Keng Hong | Eileen Wong | Gregory Seow | Boon Fan Han | Jenny Lim | Josephine Toh | Kelvin Chong | Yen Pheng Lee | Lynda Teo | Man Yee Sau | Rachel Chia | Suprita Vohra, PhD | Susan Cheong | Teyu Che Chern | Vinayak Herur | Winfield Wong | Ze Ling Chen | Pei Joo Low | Daniel Ng | Keith Y. | Nimish Panchmatia | Sham Arora | Vikram Malhotra | Kate Chiew | Matthew Driver | Michael Naert | Muliani Tanty Human Capital Leadership Institute (HCLI) Singapore Management University IBFSG - The Institute of Banking & Finance Singapore 📷: Asian Financial Leaders Programme
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At #ClimateWeekNYC last week, the MAS-convened Transition Credits Coalition (TRACTION), with the RMI, co-hosted a buyers’ roundtable. It gathered invaluable feedback on scaling demand for transition credits and insights into what buyers looked for in transition credits. MAS also engaged stakeholders to explore how blended finance, transition credits and the Singapore-Asia taxonomy could scale transition finance, particularly in Asia. This included co-hosting three other events: - “Harnessing Transition Credits to Drive a Fossil Fuel to Clean Transition in Emerging Markets”: A collaborative effort with The Rockefeller Foundation to spearhead the shift to clean energy. - “Bridging The Gap – Lessons Learned In Scaling Catalytic Climate Investment Through High Impact Partnership”: With Allied Climate Partners, where valuable lessons were discussed on enhancing climate investments. - “Market-Based Approaches for Coal Transition”: Partnering with The World Bank to explore effective strategies for transitioning away from coal. MAS Chief Sustainability Officer Gillian Tan also spoke on the ‘Triple As’ needed - Ambition, Arsenal, and Actors – to realise the full potential of market-based solutions for coal transition: https://lnkd.in/gGVnA_uJ For further details and updates on MAS’ work on transition credits, please refer to – https://lnkd.in/gXASGyV4
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Monetary Authority of Singapore (MAS) reposted this
Celebrating 10 years of the Smart Nation initiative — a whole-of-nation effort led by the Ministry of Digital Development and Information to improve citizens’ lives through technology! 🎉 Today, PM Lawrence Wong launched Smart Nation 2.0, charting the next phase of Singapore’s digital transformation! 🌟 Watch this video for a glimpse of the progress we’ve achieved together as a Smart Nation since the initiative was first launched in 2014 by then-PM Lee Hsien Loong. As we embark on the next chapter of our journey, we remain committed to shaping a Smart Nation that fosters trust, supports growth, and strengthens our community. Together, let’s build a thriving digital future for all! 🙌🇸🇬 #SmartNationSG #AThrivingDigitalFutureForAll #TechForGood #ForwardSG
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📰 #ICYMI: The Equities Market Review Group, chaired by Minister Chee Hong Tat, Minister for Transport, Second Minister for Finance and Deputy Chairman of the Monetary Authority of Singapore, held its inaugural meeting on 19 August. The group set out its strategic direction to tackle key challenges and seize opportunities facing Singapore’s equities market. At the meeting, the Group identified the priority areas for its two workstreams – Enterprise and Markets workstream, and Regulatory workstream. These workstreams bring together a diverse range of industry experts and stakeholders. Stay tuned for more updates as the review progresses. 🔗 Read the full media release: https://lnkd.in/gjBCCtgC https://lnkd.in/g73eDJ7R #MASNews #MASInsights
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MAS at #ClimateWeekNYC: Insights from Transition Credits Coalition (TRACTION): Transition credits are high integrity carbon credits generated from the emissions reduced through the early retirement of coal fired power plants and their replacement with cleaner energy. Various transition crediting methodologies – project-based and sectoral approaches - are currently under development, to prescribe how projects can meet key integrity principles in the generation of the credits. At New York Climate Week, MAS-convened Transition Credits Coalition (TRACTION) shared early observations of how multiple approaches can complement each other in accelerating a just coal transition globally. Find out more about TRACTION’s Early Observations of Project-Based and Sectoral Crediting Approaches for Transition Credits here: https://lnkd.in/g4K_6tad For further details and latest updates on TRACTION, refer to MAS’ Transition Credits webpage here: https://lnkd.in/gXASGyV4
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MAS has announced the establishment of a Cyber and Technology Resilience Experts (CTREX) Panel. The Panel replaces MAS’ Cyber Security Advisory Panel, with an expanded mandate to cover technology resilience which, together with cybersecurity, significantly underpins the operational resilience of the financial sector. READ MORE: https://lnkd.in/gSeuGDjw
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🔔 Remember: Government officials will never ask the following over phone or text: Request for personal or banking information, transfer money, or install apps or software. Protect yourself from scams by following these simple steps: ADD security features, CHECK for scam signs, and TELL authorities or trusted individuals if you suspect fraud. Learn more about how to stay safe: https://lnkd.in/guFkcgE3 #MASAlerts #FinancialSafety #ScamPrevention
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MAS and The Association of Banks in Singapore today announced that major retail banks in Singapore will progressively implement Singpass Face Verification over the next three months to strengthen the digital token setup process for retail banking customers. While MAS continues to work closely with banks on measures to protect customers against scams, we urge consumers to maintain vigilance and avoid falling prey to scams by keeping updated on the latest scam tactics, practicing good cyber hygiene. Find out more: https://lnkd.in/gH5-YV-k
Major retail banks to introduce Singpass Face Verification, further strengthening resilience against phishing scams
mas.gov.sg
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MAS Managing Director, Mr Chia Der Jiun, met with Mr Johannes Hahn, European Commissioner for Budget and Administration on 11 September 2024. During the meeting, Mr Chia and Mr Hahn reaffirmed the longstanding relationship between MAS and the European Commission. They also exchanged views on the economic outlook and efforts to develop the bond markets. Photo: © European Union, 2024, CC BY 4.0