21 May 2015
Singapore enjoys a trusted reputation as an international financial and business centre with a robust regulatory framework against money laundering and terrorist financing.
Dealing with money laundering and terrorist financing requires a national response. While there are strong anti-money laundering (AML)/ countering the financing of terrorism (CFT) controls in place for the financial sector, an effective regime requires the participation of non-financial stakeholders as well. The Financial Action Task Force (FATF) standards were also recently tightened, with a new focus on lawyers, accountants and corporate service providers (CSPs).
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