Yu Beng Soon

Head Financial Crime Compliance
Standard Chartered Bank (Singapore) Limited

IBF Fellow (2021)

Compliance

"The world is being reset with unprecedented changes in accelerated pace. Yet, this is also a time of unprecedented potential. We have to lean into this moment and transform ourselves to be future-fit."

Biography

Beng Soon is the Head of Financial Crime Compliance for Standard Chartered Bank (Singapore) Limited. He sets direction on financial crime risk management considering local operating environment in alignment with Group's strategic direction and is responsible for oversight and execution.

Beng Soon is a member of the AML/CFT Industry Partnership (ACIP) Steering Group, a Public Private Partnership to collaboratively identify, assess and mitigate key and emerging money laundering and terrorism financing risk facing Singapore. Since inception in 2017, ACIP has issued a number of best practice papers and established a number of working groups that have enhanced the industry's capabilities to combat financial crime.

He is also an active member among Commercial Bank representatives working with the Monetary Authority of Singapore ('MAS') to co-create a platform that will enable Financial Institutions ('FI') to securely share information on customers or transactions to help identify and disrupt material financial crime risk.   While other countries have introduced arrangements for information sharing among FI, this will be the first centralized platform where information is shared in a structured format that allows for seamless integration with data analytics tools.

Beng Soon is an industry veteran with more than 15 years of experience fighting financial crime in the private sector. He started his career with the public sector before joining the private sector in 2006 and has worked in key financial crime risk management roles cutting across Group, Regional and Country functions. He holds a Bachelor of Business from the University of Tasmania and is ACAMs-certified.