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Asiaciti Trust would like to issue the following statement in response to the Monetary Authority of Singapore’s announcement on 22 July.

Asiaciti Trust is committed to the highest compliance standards and meeting the regulatory requirements in all jurisdictions in which we operate. We have resolved a matter with the Monetary Authority of Singapore (“MAS”) that specifically relates to our Singapore office failing to meet the MAS’s Anti-Money Laundering and Countering the Financing of Terrorism (“AML/CFT”) controls and procedures requirements in the period prior to early 2018. 

These isolated AML/CFT control and procedural issues have been fully addressed, and since 2018, the Singapore office’s new management team has enhanced internal compliance and governance systems to fully meet the requirements. We are pleased to have resolved this matter with the MAS and look forward to continuing to provide the exceptional client service, responsiveness and independence that we have always been known for.

Clients and business partners who have further questions are invited to contact their Asiaciti Trust representative.