Of which, the regulator made 39 criminal convictions of individuals involved in market misconduct and related offences; a result of joint investigations with the Singapore Police Force’s Commercial Affairs Department (CAD). It also issued 18 prohibition orders against unfit representatives.
The Monetary Authority of Singapore (MAS) has enforced $7.88 million in financial penalties and compositions, of which $7.1 million were related to AML/CFT breaches, over its reporting period of Jan 1, 2022 to June 30, 2023. AML/CFT stands for anti-money laundering and counter-terrorism financing.
This is part of the MAS’s fourth enforcement report released on Sept 19, which details enforcement actions taken against financial institutions (FI) and individuals for market abuse, financial services misconduct and money laundering related offences. The report is published every 18 months.
