Further Information on COSMIC Platform Published by MAS

01 April 2024

Further Information on COSMIC Platform Published by MAS

The Monetary Authority of Singapore (MAS) has published more information regarding its development of the “Collaborative Sharing of Money Laundering/Terrorism Financing (ML/TF) Information & Cases” (COSMIC) platform announced in 2022.

COSMIC will allow financial institutions to share information to detect and deter criminal activities.

COSMIC, developed in collaboration with six major commercial banks in Singapore, will initially focus on three prioritised financial crime risks faced in commercial banking:

Misuse of legal persons;
Trade-based money laundering; and
Proliferation financing.

Firms can stay up-to-date with COSMIC’s development.

Read the full statement

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Further Information on COSMIC Platform Published by MAS

01 April 2024

Further Information on COSMIC Platform Published by MAS

The Monetary Authority of Singapore (MAS) has published more information regarding its development of the “Collaborative Sharing of Money Laundering/Terrorism Financing (ML/TF) Information & Cases” (COSMIC) platform announced in 2022.

COSMIC will allow financial institutions to share information to detect and deter criminal activities.

Speak to us to request a demonstration

Plenitude are Financial Crime, Risk and Compliance specialists, offering advisory, transformation services and innovative cloud-based RegTech subscription products.

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