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Some changes have already been introduced since the money laundering ring was exposed, including laws making it easier for law enforcement to prosecute such offences and lowering the cash ...
Anti-money laundering regulations have become a much larger burden for financial institutions and enforcement has stepped up significantly. During 2011–2015 a number of major banks faced ever-increasing fines for breaches of money laundering regulations.
It is the biggest money laundering case in Singapore, and among the biggest in the world, [2] involving assets worth 3 billion Singapore dollars. [ 3 ] Initially, only 1 billion Singapore dollars worth of assets was either seized, frozen or issued prohibition of disposal orders although the value of assets involved would later balloon to 3 ...
Under Singapore's Monetary Authority of Singapore (MAS) Notice 626 - Prevention of Money Laundering and Countering the Financing of terrorism (Banks), [18] PEPs are persons, either domestic or foreign, who are entrusted with prominent public functions. Prominent public functions includes the roles held by a head of state, a head of government ...
The total value of assets seized in Singapore's biggest money laundering case has swelled to S$2.4 billion ($1.76 billion), police said on Wednesday. The assets now include cash amounting to more ...
The new Anti-Money Laundering and Other Matters Bill introduced to parliament on Tuesday will remove the need for the prosecution to show a direct link between the criminal. Singapore is seeking ...
The Asia/Pacific Group on Money Laundering (APG) is a FATF-style regional inter-governmental (international) body, the members of which are committed to effectively implementing the international standards against money laundering (Anti–money laundering or AML), combating the financing of terrorism (CFT) and financing the proliferation of weapons of mass destruction.
SINGAPORE (Reuters) -A Singapore court on Thursday charged two former bankers for helping a group of foreigners who were convicted of laundering $2.2 billion last year in the biggest such ...