Observations
Nov 06, 2023The Monetary Authority of Singapore (MAS) has banned DBS Bank from acquiring new business ventures or making "nonessential" IT changes for six months. The move follows several service interruptions at DBS this year, including one in October in which its mobile and online payment services were down for more than half a day.
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).
