SINGAPORE AIMS TO BOOST ITS INTERNATIONAL AML REPUTATION

SINGAPORE has been working hard to lose its past reputation for lax anti-money laundering (AML) controls.Its 'steering committee for combating money laundering and terrorist financing,' jointly headed by the ministry of home affairs, ministry of finance, and the monetary authority of Singapore (MAS) published the country's first 'national risk assessment report' on money laundering and terrorist financing in January 2014. This found that "the financial sector…has put in place a robust preventive regime that combines tough licensing requirements, strict AML/CFT ...


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