MAS to Expand COSMIC Information-Sharing Platform to More Banks and Wider Case Types

In an oral parliamentary reply on 5 August 2026, MAS said it will expand the COSMIC anti-money laundering information-sharing platform beyond its original three focus areas (misuse of legal persons, misuse of trade finance, and proliferation financing) to cover a wider range of significant financial crime cases, with additional major banks joining beyond the original six founding participants. The expansion is scheduled for completion within two years. MAS noted COSMIC, launched 1 April 2024, has already improved participant banks' ability to detect bad actors, resulting in more suspicious transaction reports filed and more questionable accounts closed.

• Expands COSMIC platform scope beyond legal-person misuse, trade finance misuse, and proliferation financing to wider significant case types
• Onboards additional major banks beyond the original six founding participants
• Sets a two-year timeline for completing the expansion
• Confirms COSMIC has driven increased STR filings and account closures since its April 2024 launch