MAS strengthens use of data to combat financial crimes
Singapore central bank will roll out revised reporting forms and reporting platform in August
The Monetary Authority of Singapore said it will increase its use of technology and data analytics for a more “risk-targeted approach” to combating financial crime.
“Technology, and in particular data analytics, can significantly augment our ability to identify higher-risk areas,” Ho Hern Shin, MAS’s assistant managing director for banking and insurance, said. “Both the industry and the MAS have begun to invest great efforts to tap on it,” she told the country’s banking association on July 18.
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