Regulatory Alerts2024-04-17
Added · Updated
Thematic Review of Transaction Monitoring Systems and Use of Artificial Intelligence
The Monetary Authority of Singapore issued this Circular to outline findings from a thematic review of Authorized Institutions' transaction monitoring systems and their use of artificial intelligence. The document provides specific insights for the design, implementation, and optimization of these systems to enhance anti-money laundering and counter-financing of terrorism controls. It serves as a regulatory expectation for all Authorized Institutions to ensure their detection mechanisms are effective and aligned with current technological standards.
CIR
Current
Issue Date:
17 Apr 2024
20240417-2-EN.pdf (3.8 MB)
Topic:
AML & CFT - AML/CFT Controls
Group:
All Authorized Institutions
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