What is banking compliance and why is it important?

Banking compliance refers to the process and controls that banks put in place to ensure they adhere to applicable laws, regulations, and industry standards. It is crucial to manage legal risk, build trust with regulators, and maintain operational integrity.

Which regulations are applicable to banks in the UK?

In the UK, banks must comply with regulations such as the Financial Services and Markets Act, Prudential Regulation Authority (PRA) rules, Financial Conduct Authority (FCA) regulations, anti‐money laundering (AML) laws, and data protection requirements.

Do you assist with obtaining banking licences and regulatory authorisations?

Yes. ABM Global Compliance provides support throughout the process of obtaining banking licences and regulatory authorisations, including preparing documentation, liaising with regulators, and ensuring ongoing compliance.

What is involved in a banking compliance audit?

A banking compliance audit involves reviewing policies, systems, and practices to identify gaps in regulatory compliance; assessing risk exposure; and recommending corrective actions to ensure full compliance with applicable regulatory standards.

How can strategic compliance solutions help my bank?

Strategic compliance solutions help banks align their compliance frameworks with business goals, implement robust systems for risk mitigation, and stay ahead of regulatory changes to avoid fines and reputational damage.

How do you monitor changes in banking regulation?

ABM Global Compliance tracks regulatory updates from bodies such as the FCA, PRA, and other relevant international regulators and reviews internal policies accordingly; we also provide advisory services to adapt to new requirements quickly.

Is there ongoing support after compliance frameworks are set up?

Yes. We offer ongoing monitoring, periodic reviews, staff training, compliance reporting, and adjustments to your framework as regulations evolve.

How do I start working with ABM Global Compliance for banking services?

You can contact us via phone at +44 207 515 7080 or email info@abmglobalcompliance.com/sg. We begin with a discovery call to understand your needs, then propose a tailored compliance plan.

Get Banking Compliance Services | Banking Licence Experts

Comprehensive Compliance Frameworks for Singapore Banks

ABM Global Compliance designs and implements robust, end-to-end compliance frameworks tailored to Singaporean banks. Our frameworks align with regulatory requirements from the Monetary Authority of Singapore (MAS), and applicable international standards including FATF. We cover governance structures, conduct and operational risk management, AML/CFT controls, credit risk policies, and third-party outsourcing compliance. Our approach integrates automated monitoring and reporting tools for real-time risk assessment, ensuring scalable and resilient compliance systems.

AML/CFT Program Development & Reviews

We assist banks in developing and enhancing AML/CFT programs in accordance with the Monetary Authority of Singapore Act, MAS Notices and Guidelines, and FATF standards. Our services include designing customer due diligence (CDD) and enhanced due diligence (EDD) processes, sanctions and politically exposed person (PEP) screening, transaction monitoring frameworks, and suspicious transaction reporting. ABM conducts independent program reviews, gap analyses, and remediation plans to prepare banks for MAS compliance assessments and audits.

Book a Free Consultation – Get Licensed Faster!

Regulatory Licensing & Advisory for Banks

ABM provides advisory support for obtaining and maintaining banking licences under MAS supervision. We assist with new licence applications, variations, and ongoing compliance submissions. For foreign bank branches and subsidiaries, we offer strategic advice on local licensing requirements and cross-border compliance considerations. Our readiness reviews help banks adapt to evolving prudential and conduct regulations.

Outsourced Compliance Functions

To address resource challenges, ABM offers outsourced compliance roles including Chief Compliance Officer (CCO), Money Laundering Reporting Officer (MLRO), and Data Protection Officer (DPO). These services include daily compliance monitoring, MAS reporting, governance updates, and advisory support—delivering cost-effective, high-quality compliance operations.

Book a Free Consultation – Get Licensed Faster!

Banking-Specific Training and Capacity Building

ABM delivers targeted training for compliance teams, operations staff, and senior management on Singapore regulatory obligations. Training covers AML/CFT compliance, prudential and conduct risk management, MAS outsourcing guidelines, data privacy, and internal controls. We use workshops, scenario-based learning, e-learning, and executive briefings to build a strong compliance culture.

Internal Audit & Regulatory Readiness Reviews

We conduct full-scope internal audits and mock inspections to assess compliance with MAS regulations, the Banking Act, and applicable international standards. Our audits test controls over KYC, AML/CFT, operational risk, market conduct, and governance frameworks, providing detailed reports and practical recommendations for MAS inspections.

Book a Free Consultation – Get Licensed Faster!

Cross-Border & Global Banking Compliance

For Singapore banks operating internationally, ABM offers advisory services to manage multi-jurisdictional compliance obligations, including FATCA, CRS, and global AML/CFT standards. We support harmonisation of group compliance policies, cross-border regulatory reporting, and coordination with regulators such as the HKMA (Hong Kong), FCA (UK), and others.

Ongoing Compliance Support

ABM provides ongoing advisory services including quarterly compliance health checks, MAS regulatory update briefings, and compliance dashboard reporting. Our proactive alerts ensure institutions remain ahead of regulatory changes and maintain continuous compliance readiness.