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Singapore MAS Imposes S0,000 in Composition Penalties on Five Payment Institutions for AML/CFT Breaches in Q2 2025

Singapore MAS Imposes S$960,000 in Composition Penalties on Five Payment Institutions for AML/CFT Breaches in Q2 2025

by Theresa Joy Lacatan | Jul 2, 2025 | Blog News, Crypto News

On 1 July 2025, the Monetary Authority of Singapore (MAS) released its quarterly update on regulatory and enforcement actions. MAS imposed composition penalties totalling S$960,000 on five regulated entities i.e. Remsea Pte Ltd, Arcade Plaza Traders Pte Ltd, J-Dee...
Singapore Authorities Warn Against Unauthorised Contactless Payment Fraud

Singapore Authorities Warn Against Unauthorised Contactless Payment Fraud

by Theresa Joy Lacatan | Feb 19, 2025 | Blog News, Crypto News

On 17 February 2025, the Singapore Police Force (SPF), Cyber Security Agency of Singapore (CSA), and Monetary Authority of Singapore (MAS) jointly issued the Joint Advisory on Unauthorised Card Transactions Made Using Contactless Payment Methods in Singapore. The...
Singapore to Establish New Payments Entity to Strengthen National Payment Schemes

Singapore to Establish New Payments Entity to Strengthen National Payment Schemes

by Theresa Joy Lacatan | Feb 13, 2025 | Blog News, Crypto News

On 12 February 2025, the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) announced the establishment of a new payments entity to consolidate the administration and governance of Singapore’s national payment schemes. The...
Singapore Addresses Credit Card Fraud: Protections and Responsibilities Outlined

Singapore Addresses Credit Card Fraud: Protections and Responsibilities Outlined

by Theresa Joy Lacatan | Jan 8, 2025 | Blog News, Crypto News

On 7 January 2025, during a Parliament sitting, Mr. Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman of the Monetary Authority of Singapore (MAS), addressed a query on credit card fraud raised by Mr. Desmond Choo, Member of...

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