Dedicated AML Department for Singapore

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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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Editor · Dip(AML)

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