Policy, Payments and Financial Crime Group

The Policy, Payments and Financial Crime Group formulates prudential and cybersecurity policies for financial institutions, and conducts surveillance of the financial system. 

Our Departments/Division 

Anti-Money Laundering Department

The Anti-Money Laundering (AML) Department upholds Singapore’s reputation as a clean and trusted place to do business by strengthening the financial sector’s defences against money laundering, terrorism financing and proliferation financing. The AML Department develops sound regulations, conducts targeted risk-based supervision in collaboration with MAS’ supervisory departments, and works closely with the public and private sectors to coordinate the broader national effort against such illicit finance.

Enforcement Department

The Enforcement Department upholds the integrity of Singapore’s financial markets by deterring unlawful and improper conduct through effective surveillance and enforcement. It carries out enforcement functions across the banking, insurance, capital markets and other sectors regulated by MAS, employing digital forensics, market surveillance and data analytics to support such work. Offences under the Securities and Futures Act and the Financial Advisers Act may be jointly investigated with the Commercial Affairs Department. The Enforcement Department is also actively involved in international work through the International Organisation of Securities Commissions (IOSCO), specifically through providing assistance to overseas regulators and representing the MAS in the IOSCO Screening Group and Committee 4 (on Enforcement and Exchange of Information).

Prudential Policy Department

The Prudential Policy Department fosters a sound and dynamic financial sector in Singapore through prudential policy formulation. The department develops capital and liquidity standards, including MAS’ approach on the implementation of Basel III as well as contributions to international policy forums.  It oversees MAS’ policies on housing loans and unsecured credit, concentration limits, and the deposit insurance and policy owners’ protection schemes. The department also reviews MAS’ policy on banking structures, and strengthens the regulatory frameworks for banks, merchant banks, finance companies, and financial holding companies.

Payments Department

The Payments Department (PD) is responsible for the regulation of the payments industry. PD formulates policies on the regulation of payment services, and supervises payment services providers (e.g. cross-border money transfer service providers, digital payment token service providers and money-changers) as well as payment systems (e.g. GIRO, FAST, NETS Electronic Funds Transfer at Point-of-Sale). PD also supervises non-bank credit and charge card issuers regulated under the Banking Act, and credit bureaus regulated under the Credit Bureau Act.