Singapore regulator tells banks to monitor Myanmar fund flows after coup

The Monetary Authority of Singapore (MAS) reminded all chief executives of financial institutions of the need for robust customer due diligence and appropriate risk mitigation measures in higher risk situations.

SINGAPORE: Singapore's central bank has told financial firms to be vigilant to any suspicious transactions or fund flows between the city-state and Myanmar, a circular seen by Reuters showed, citing concerns over the potential for financial crimes.

In the Feb 25th circular, the Monetary Authority of Singapore (MAS) reminded all chief executives of financial institutions of the need for robust customer due diligence and appropriate risk mitigation measures in higher risk situations.