MAS consults on ‘Cosmic’ risk info-sharing platform
Digital platform for AML/CFT information sharing could be launched as soon as 2023
The Monetary Authority of Singapore plans to introduce a digital platform for banks and other regulated entities to share risk-related information.
The system, called “Collaborative Sharing of ML/TF Information and Cases”, or “Cosmic”, will be owned and operated by the MAS, but is being developed jointly with six large banks. It could be launched as soon as the first half of 2023.
Financial institutions would be able to share information for anti-money laundering and countering the financing
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