sg-crest A Singapore Government Agency Website

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

Anti-Money Laundering Department

The Anti-Money Laundering (AML) Department is responsible for formulating policies to combat money laundering and other illicit financing, monitoring these risks in the financial sector, and supervising financial institutions with respect to their AML systems and controls. 

Enforcement Department

The Enforcement Department aims to uphold the integrity of Singapore’s financial markets by deterring unlawful and improper conduct through effective surveillance and enforcement.

It investigates and enforces breaches of the laws administered by the MAS. These include the Banking Act, the Financial Advisers Act, the Insurance Act, the Securities and Futures Act, and MAS regulatory requirements on financial institutions against terrorist financing and money laundering.

The Enforcement Department also:

  • Jointly investigates market misconduct offences under Part XII of the Securities and Futures Act with the Commercial Affairs Department.
  • Fronts the MAS' work on the International Organisation of Securities Commissions (IOSCO)'s Screening Group and Committee 4 on Enforcement and the Exchange of Information.
  • Provides assistance to overseas regulators under the IOSCO Multilateral Memorandum of Understanding.

As part of its mandate, the Enforcement Department also employs digital forensics, market surveillance and data analytics to support its investigative and enforcement work.

Prudential Policy Department

The Prudential Policy Department formulates prudential policies for banks, insurance companies and securities firms to promote a sound and dynamic financial sector in Singapore.

The department develops capital and liquidity standards, including MAS’ approach on the implementation of Basel III. It also formulates MAS’ policies on housing loans and unsecured credit, concentration limits, and the deposit insurance and policy owners’ protection schemes. It reviews MAS’ policy on banking structures and strengthens the regulatory frameworks for banks, merchant banks, finance companies, and financial holding companies.