In the latest instalment of our Regulation Around the World series, Financial Services partners in 15 jurisdictions cover recent developments concerning anti-money laundering.
Our global updater is accompanied by further analysis and insights in our Regulation Around the World podcast which is available now to stream and download. The podcast features speakers from the
Singapore has passed legislative amendments to enhance its anti-money laundering and countering the financing of terrorism (AML/CFT) regime. Such changes will, amongst other things, enable more effective prosecution of money laundering offences, enhance the enforcement and supervisory efforts of AML/CFT regulators, and align the city-state’s AML/CFT framework with international standards.
Read our new
On 9 May 2023, the Singapore Parliament passed amendments to the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 (CDSA) which will introduce significant new offences of rash and negligent money laundering.
Under the current law, the successful prosecution of money mules (i.e., those who assist with the transfer of