MAS Publishes Latest Enforcement Report

The report covers the regulator’s enforcement initiatives and outcomes for the period of July 2023 – December 2024.

Key takeaways from the report include:

➡️ 33 criminal convictions were secured during the period including the imprisonment of 19 individuals;

➡️ $4m of financial penalties and compositions were imposed for AML/CFT breaches; and

➡️ $7.16 of civil penalties were imposed for deceptive practices, insider trading, and false trading.

✅ As MAS increases their detection and enforcement activities, firms operating in Singapore must ensure their AML/CTF and Market Abuse control frameworks are comprehensive to avoid similar breaches and penalties.