Tag: COSMIC
Singapore expands COSMIC as financial crime risks evolve
Singapore is expanding its approach to financial crime detection through COSMIC, a collaborative information-sharing platform designed to help banks identify suspicious activity across institutional...
New AML Act reinforces Singapore’s global reputation
In August 2024, Singapore’s Parliament enacted the Anti-Money Laundering and Other Matters Act 2024, a pivotal step in tightening the city-state’s defences against financial...
How Singapore’s national AML strategy reshapes financial security
Singapore’s new national anti-money laundering (AML) strategy introduces a comprehensive framework structured around three core pillars: Prevent, Detect, and Enforce, which collectively aim to enhance the financial sector's ability to combat illicit money flows.
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