MAS overhauls money laundering paper
SINGAPORE -- The Monetary Authority of Singapore (MAS) published its expected consultation paper on money laundering at the beginning of January. The paper revises its Notice on prevention of money laundering .
The notice updates Singapore’s anti-money laundering and counter-terrorist financing regime to take into account recent international developments, such as the revised recommendations published by the Paris-based Financial Action Task Force, an inter-governmental body, in 2003. Singapore’s notice includes a "more comprehensive framework of measures designed to prevent the misuse of the banking sector in Singapore to launder money or finance terrorism," said the financial services regulator in a
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