MAS conducted thematic inspections on the AML/CFT name screening frameworks and processes of selected financial institutions in 2021. The paper sets out MAS’ supervisory expectations and good practices, areas for improvement, and illustrative examples observed from the inspections. Financial institutions should benchmark themselves against the supervisory expectations and good practices in the paper.
Information Paper on Culture and Conduct Practices of Financial Institutions
Information on culture and conduct outcomes financial institutions should work towards in specific areas such as governance, hiring, communication channels and performance management. The paper also provides examples of good practices gathered from a thematic survey and dialogue sessions conducted by MAS with banks, insurers and capital market intermediaries.