The Monetary Authority of Singapore’s recent circular, issued on 25 October 2024, sets supervisory expectations on anti-scam measures for Major Payment Institutions (“MPIs”) issuing e-wallets, which provide personal payment accounts, i.e., accounts for individuals in Singapore containing e-money. Effective 15 December 2023, the stock cap for e-wallets has been raised to SGD 20,000 (from SGD […]