Singapore's central bank and integrated financial-services regulator — sets the AML/CFT, market-conduct and technology-risk standards for one of Asia's principal financial centres.
The Monetary Authority of Singapore (MAS) is the central bank of Singapore and the integrated regulator for banking, capital markets, insurance and payment services. Its AML/CFT Notices for banks (MAS Notice 626), capital-markets intermediaries (MAS Notice SFA04-N02) and payment-service providers (MAS Notice PSN01) lay out detailed customer due diligence, transaction monitoring and STR requirements.
Singapore is the second-largest USD/EUR clearing centre in Asia after Tokyo, and the regional booking centre for many European banks' Asian wealth and trade-finance business. MAS's enforcement actions in the wake of the 1MDB scandal — and the 2023 SGD 3 bn money-laundering case against Singapore-based individuals — set the bar for AML supervision in the region. MAS technology-risk-management guidelines are widely benchmarked outside Singapore as well.
Bucephalus AML scenario coverage and reporting templates can be configured to MAS Notice 626 expectations for European groups with Singapore operations or branch-booking exposure.
