OCBC launched a fully digital accounts opening service for foreigners from Malaysia, Indonesia, mainland China and Hong Kong.
MAS fines 4 entities S$3.8m for failures in anti-money laundering controls
DBS and OCBC are fined S$2.6m and S$600,000, respectively. The Monetary Authority of Singapore (MAS) has imposed penalties amounting to S$3.8m on Citibank, DBS, OCBC, and Swiss Life for breaches of its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) requirements.
MAS fines DBS, OCBC, Citibank, Swiss Life S$3.8m for breaches linked to Wirecard case
SINGAPORE — The Monetary Authority of Singapore (MAS) has fined banks DBS, OCBC, Citibank and insurer Swiss Life a total of S$3.8 million for breaching its requirements on anti-money laundering and ...
Top investment themes among Singapore investors are energy, technology, Asia and healthcare, says Moomoo Singapore
Moomoo Singapore’s assets under management (AUM) grew by 33% in the past seven months to hit $7 billion. Energy, technology, Asian stocks and healthcare counters are among the top investment themes ...
Investing In Fixed Deposits: How StashAway Simple Guaranteed Locks In A Fixed Return As Markets Become More Volatile
Fixed deposits are traditionally used to invest one’s excess cash or for an upcoming expense in the near term. They offer a capital guarantee and a higher interest rate than a savings account for the ...
Singapore’s Penguin looks to go private at second attempt
Penguin International’s senior management and private equity backer hope it proves second time lucky in their attempt to take the Singapore-listed shipyard group private. Executive chairman Jeffrey ...
Probation for teen who received more than $85k in bank account from scams targeting OCBC customers
A 17-year-old who allowed scammers to use his bank account to receive $85,220 stolen from OCBC Bank customers also recruited his friends to commit similar offences. Cash totalling $186,693 taken from other scam victims was deposited into the bank accounts of two friends,
Singapore central bank, Amazon, IMF unveil ‘purpose-bound’ money technical concept
The Monetary Authority of Singapore (MAS) released on Wednesday a whitepaper for “purpose bound” money, detailing a technical overview of digital currencies designed for specific purposes.
Singapore fines financial institutions over Wirecard-related breaches
The Monetary Authority of Singapore said on Wednesday that DBS, OCBC, Citibank Singapore and Swiss Life Singapore had been fined a total of S$3.8mn ($2.8mn). The regulator said the four financial institutions had “inadequate anti-money laundering and ...
Singapore Fintech dtcpay Raises $16.5M In Pre-Series A Round, Aims To Bridge Traditional And Digital Currencies
Singapore-based fintech company ... John Tay, who spoke on behalf of Kwee Liong Tek's investment entity, said, “dtcpay has demonstrated remarkable growth prospects and aligns with our investment ...
Singapore central bank fines DBS, Citibank, OCBC, Swiss Life over breaches
Singapore's central bank on Wednesday said it had imposed fines collectively worth S$3.8 million ($2.83 million) on lenders Citibank, DBS and OCBC and insurer Swiss Life , for breaching requirements ...
Singapore punishes Citi, DBS, OCBC over Wirecard scandal
The Monetary Authority of Singapore, the city-state’s central bank and financial regulator, said on Wednesday that it will impose penalties amounting to 3.8 million Singaporean dollars ($2.8 million) on Citibank, DBS Bank, OCBC Singapore and Swiss Life ...
UPDATE 1-Singapore c.bank fines DBS, Citibank, OCBC, Swiss Life for inadequate money laundering, terrorism financing protections
Singapore's central bank on Wednesday said it has imposed fines collectively worth S$3.8 million ($2.83 million) on lenders Citibank, DBS and OCBC and insurer Swiss Life, for breaching its requirements on anti-money laundering and countering terrorism ...
Taylor Swift fans rush to get UOB cards as pre-sale concert tickets only for cardholders
A Telegram channel discussing how fans can secure the cards was set up just 30 minutes after the concert announcement. Read more at straitstimes.com.
Grab’s job cuts show Singapore tech firm not immune to ‘frosty times’ of higher interest rates, slowing economy: analysts
Extravagant growth’ pursued by firms including Grab in the pre-pandemic era is unlikely to replicated in the current economic climate, say analysts.
Worst Plunge in Years for Singapore’s Star Stock Seen Overdone
Sembcorp Industries Ltd.’s worst one-day drop in three years failed to dent the unanimous support it enjoys from equity analysts amid its climb to successive record highs.