Collaborative Sharing News Today

The platform will be used in the fight against money laundering, terrorism financing and proliferation financing. Read more at straitstimes.com.

Following public consultation in October 2021, the Financial Services and Markets Act 2022 (FSMA) was amended in May 2023 to set out the legislative framework for COSMIC.

Monetary Authority of Singapore chief Ravi Menon, who is retiring soon, also ruled out entering politics.

Singapore banks eye Chinese clients as money laundering investigation grows as the amount of illicit funds reaches $1.75 billion.

It is high time our authorities dealt with loan defaulters and money launderers with utmost importance.

Banks in Singapore will be able to fight financial crimes more easily under a new framework called Collaborative Sharing of Money Laundering/Terrorism Financing Information and Cases (COSMIC). Minister of State for Trade and Industry and Monetary Authority of Singapore (MAS) Board Member Alvin Tan outlined the key feat

Parliament passed a Bill paving the way for the launch of a digital platform for financial institutions in Singapore to share information on suspicious customers or transactions.

Throughout the year, we have been keeping you up to date on noteworthy developments across the region with our Regional Round-up Publications. As we…

The Monetary Authority of Singapore (MAS) is building a digital platform that lets banks share information on customers and transactions in order to tackle money laundering, terrorism financing and proliferation financing.

Monetary Authority of Singapore launches data and information-sharing platform