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Dedicated AML Department for Singapore

By JX Low · 29 Apr 2017

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In light of recent trend in rising money laundering activities, the central bank of Singapore will be setting up a dedicated departments to combat ML/TF.

Singapore’s financial sector faces the risk of being used as a conduit for money laundering and terrorist financing activities, MAS noted.

Transnational flows of money are becoming increasingly complex and require heightened supervision to combat money laundering and other illicit financing activities.

Read more here.

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Related posts:

  1. 30,511 suspicious transaction reports filed to Commercial Affairs Department
  2. Singapore BSI Bank ordered to shut down
  3. Singapore forms new AML/CFT partnership with MAS, CAD and eight banks

Filed Under: News, Asia Tagged With: MAS, Singapore

About JX Low

Editor · Dip(AML)

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