MAS expects providers to monitor addresses with direct or indirect links to known suspicious sources and to trace transactions as far back as necessary, without setting a numeric hop depth. Travel Rule data requirements expand for transfers of SGD 1,500 or more.
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Glossary term
What is MAS?
MAS, the Monetary Authority of Singapore, is Singapore's central bank and financial regulator. It licenses digital payment token service providers under the Payment Services Act 2019 and sets their AML and counter-terrorist financing obligations in Notice PSN02, including customer due diligence, transaction monitoring, the Travel Rule, and suspicious transaction reporting.