It highlights three key pillars; the prevention of crime from entering and misusing Singapore’s system, the detecting and identifying of illicit flows and activities to ensure timely mitigation, and finally, the enforcing of firm and dissuasive actions against individuals who abuse Singapore’s system for ML.
Singapore has published its 32-page national anti-money laundering (AML) strategy, as part of continuing efforts to maintain the effectiveness of anti money-laundering (ML) in the country.
The strategy, jointly-produced by the Ministry of Home Affairs (MHA), Ministry of Finance (MOF) and the Money Authority of Singapore (MAS), outlines the strategic approach to address ML risks, and guides risk-targeted actions amidst rapidly changing risks and criminal typologies.
