MAS Compliance, End to End
Built for institutions regulated by the Monetary Authority of Singapore — banks under Notice 626, payment institutions under PSN01, capital markets services under SFA04-N02. Every notice, every threshold, every STR format covered out of the box.
Singapore's Integrated Financial Regulator
The Monetary Authority of Singapore (MAS) is the country's central bank and integrated financial regulator. It supervises every licensed bank, merchant bank, finance company, payment institution, capital markets services licensee, fund management company, insurance firm, and trust company operating in Singapore.
MAS issues binding Notices that prescribe specific anti-money-laundering and counter-terrorism-financing obligations for each regulated sector. While the wording differs across notices, the core operating model is consistent: a risk-based approach, customer due diligence at onboarding, ongoing monitoring of transactions and behaviour, and Suspicious Transaction Report (STR) filing to the Suspicious Transaction Reporting Office (STRO).
Failure to comply has real consequences. MAS regularly issues composition fines, public reprimands, and licence-revocation notices — and is widely regarded as one of the most active and effective AML supervisors globally.
Sector-Specific Rules, One Common Spine
Different MAS notices apply depending on your licence type. The underlying obligations are similar — but the specific thresholds, timelines, and reporting paths differ. One Constellation maps to whichever notices govern your firm.
Banks
Prevention of Money Laundering and Countering the Financing of Terrorism — Banks. The flagship AML/CFT notice covering all licensed banks and the foundation many other notices cross-reference.
Merchant Banks
Equivalent obligations applied to merchant banks operating in Singapore — covering CDD, monitoring, and STR filing in line with Notice 626.
Payment Services
Notice PSN01 governs AML/CFT obligations for major payment institutions and standard payment institutions licensed under the Payment Services Act 2019. PSN02 covers risk management.
Capital Markets & Fund Management
AML/CFT obligations for capital markets services licensees and fund management companies regulated under the Securities and Futures Act.
Digital Payment Tokens
Specific AML/CFT requirements for Digital Payment Token Service Providers, including Travel Rule obligations aligned with FATF Recommendation 16.
Insurance Intermediaries
AML/CFT obligations for licensed financial advisers and insurance brokers — proportionate but not optional.
What MAS Requires — and How We Address It
Across every MAS notice the same operating obligations recur. Here are the seven that matter most, with the One Constellation capability that satisfies each.
Risk-Based Approach & Risk Assessment
Every regulated firm must conduct an Enterprise-Wide Risk Assessment and assign a risk rating to every customer based on geography, product, channel, and behaviour.
Customer Due Diligence (CDD)
Identify and verify every customer at onboarding using reliable, independent sources. For corporates, identify the beneficial owners and the natural persons who control the entity.
Enhanced Due Diligence (EDD)
Apply additional scrutiny to higher-risk customers — PEPs, customers from FATF grey-list jurisdictions, complex ownership structures, and any customer whose risk rating exceeds the firm's threshold.
Ongoing Transaction Monitoring
Monitor customer transactions on an ongoing basis. Detect activity inconsistent with the customer's risk profile or expected behaviour. Investigate and document findings.
Sanctions & PEP Screening
Screen every customer and counterparty against UN, MAS Targeted Financial Sanctions, and global PEP lists at onboarding and on every transaction.
STR Filing to STRO via SONAR
File a Suspicious Transaction Report to the Suspicious Transaction Reporting Office through the SONAR portal as soon as suspicion is formed. Document the basis of every filing.
Record Keeping & Independent Audit
Retain all CDD records, transaction records, and STR documentation for at least five years. Ensure the AML/CFT framework is independently audited and the MLRO function is in place.
MAS Enforcement Has Teeth
MAS is one of the most active AML supervisors globally, and its enforcement record reflects that. The penalties for non-compliance are not theoretical.
What MAS-Aligned Compliance Looks Like
Common Questions
MAS Compliance, Done Properly
See the Notice 626, PSN01 and SFA04-N02 workflows live — with the actual STR templates, the actual sanctions feeds, and the actual audit export your MAS inspector will ask for.