SINGAPORE, WEDNESDAY 1 NOVEMBER 2017, FIVE STAR
HOTEL IN CBD AREA
Learning from from the 1MDB related
AML breaches in Singapore: which concrete improvements of organisation
and CDD procedures are required from front office/RMs and compliance
AML compliance effectiveness challenges in Singapore
> The lessons from the 1MDB related AML breaches in Singapore:
pre-emptive action and compliance failures; what do these decisions
against the various banks in 2016 tell about the MAS?
> Impact of FATF assessment of Singapore for AML/CFT (Sept. 2016)
How is THE MAS reacting?
> What has changed in the enforcement practice since August 2016?
> Enhanced supervision and enforcement by the MAS
> AML obligations of non-financial activities: what is changing concretely?
Internal control of AML risks
> What is expected by the regulator from front office & control functions?
> The role and specific duties of the risk manager front compared with
those of the Chief Risk Officer and the Compliance officer
> The issue of risk appetite in the effective implementation of compliance