In just one week, the MAS (Monetary Authority of Singapore) has imposed composition penalties totalling more than S$28m ($21.7m) on multiple financial institutions, including payment service providers.
Alongside this, the regulator has also issued prohibition orders and reprimands on individuals – for breaches of its Anti-Money Laundering and Countering
Composition
Free Trial
Register for free to keep reading.
To continue reading this article and unlock full access to GRIP, register now. You’ll enjoy free access to all content until our subscription service launches in early 2026.
- Unlimited access to industry insights
- Stay on top of key rules and regulatory changes with our Rules Navigator
- Ad-free experience with no distractions
- Regular podcasts from trusted external experts
- Fresh compliance and regulatory content every day
