Singapore banks step up their game against internal fraud
Firms respond to MAS warnings about the dangers of remote working spurred by Covid
Singapore’s banks are responding to prompts from their governing authority to beef up defences against internal fraud, since remote working – a necessity sparked by the pandemic – has increased the risk of staff misconduct.
The Monetary Authority of Singapore (MAS) warned in March of the increased risks created by remote working, including lack of physical oversight, circumventing controls
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Risk management
A rookie’s guide to tokenised Treasuries
What are DTCC’s digital US government debt securities? How do tokenised repo and other transactions work? These questions, and others, answered
Banks urge Singapore to relax exposure limit on crypto assets
Lower capital for tokenisation and stablecoins welcomed, but cap will curb bank involvement for now
Chain reaction: can the UK drive demand for digital gilts?
Market will need regulatory clarity, fungibility with traditional issuance and interoperable protocols
Larger EU players move slower on clearing relocation, says Esma
Active accounts rule driving smaller firms onshore; regulator ready for bigger role if lawmakers want
Private credit risk doesn’t have to be systemic to be serious
Risk management leader outlines three cracks in the consensus that risk in the private credit sector is contained
Perpetual futures: when expiry disappears, governance is key
Perps solve the futures roll problem, but run market-structure and regulatory risks, warns Vishal Gupta
Banks building GenAI governance in parallel to model risk
Risk Benchmarking: Majority have established AI governance committees, but ownership is fragmented
Cyber audit leaves Eiopa with a credibility problem
Dora supervisor charged with overseeing critical tech vendors critiqued for IT security failings
