Free Newsletter Get the hottest Fintech Singapore News once a month in your InboxThe Monetary Authority of Singapore (MAS) will bring more banks onto COSMIC and widen the platform’s scope beyond its three initial financial crime risks. MAS launched the Collaborative Sharing of ML/TF Information & Cases, or COSMIC, on 1 April 2024 to help banks share risk information and detect and disrupt illicit fund flows. Since its launch, information shared through COSMIC has led participating banks to file additional suspicious transaction reports. The shared information has helped banks and MAS identify suspicious networks and supported investigations by the authorities. MAS plans to complete the expansion within two years while balancing wider information sharing against the risk of undue de-risking and the need to protect customer information.