SIN MAS Payment Services Licensees


On Feb. 6, SIN MAS updated notice on technology risk management.


  • SIN MAS updated PSN05 technology risk management, to include a new class of FIs.
  • Notice now also applies to all holders of a payment services license under the Payment services act 2019, that carry on a business of providing digital payment token service.
  • Amended FAQs to update row 10 of table under Section A1 with the above changes.
  • Follows SIN MAS Dec. 2019 issued AML for digital payment token services, #68625.
  • Effectiveness
  • Amendments take effect from Nov. 6, 2024.

Regulators SIN MAS
Entity Types MSB
Reference RN, 2/6/2024; PSA (SIN); Citation: PSN05;
Functions Compliance; Financial; Registration/Licensing; Risk; Technology
Countries Singapore
Category
State
Products Payments
Regions AP
Rule Type Final
Rule Date 2/6/2024
Effective Date 11/6/2024
Rule Id 200373
Linked to Rule :68625
Reg. Last Update 2/6/2024
Report Section International

Last substantive update on 02/08/2024