Round-tripping Round-tripping is the process where funds are returned after being transferred to an entity, shell company, financial instruments, location, or a person that have lower regulatory standards or obligations - giving the impression that the funds have derived from a clean source and thus completing a r...
Singapore companies sanctioned by OFAC for aiding North Korea The Office of Foreign Assets Control (OFAC) has designated 16 entities and individuals for activities related to supporting the Democratic People's Republic Korea's (North Korea) nuclear and ballistic missile programs, energy trade, labour exports, and sanctions evasion.Amongst them are two Sing...
Singapore’s ACIP Releases Guidance on Legal Persons and Trade-Based Money Laundering ACIP has released 2 guidance papers on approaches towards the misuse of legal persons and trade-based money laundering (TBML) during a dialogue held on 14 May.The ACIP is Singapore’s public-private collaboration to exchange views and information on anti-money laundering/countering the financing ...
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