Observations
May 19, 2023The government of Singapore has passed a bill to establish the "Collaborative Sharing of ML/TF (money laundering/terrorism financing) Information & Cases", or COSMIC — a digital platform for financial institutions to share information on customers displaying potential financial crime concerns. COSMIC will be owned and operated by the Monetary Authority of Singapore (MAS).
Observations
Aug 09, 2021Early last month, the Monetary Authority of Singapore (MAS) issued a Consultation Paper, proposing to strengthen its investigative powers. The bill looks to empower MAS to enter premises without prior notice or a court warrant in connection with investigations.
