Lawrence Wong addresses concerns about Developers (Anti-Money Laundering and Terrorism Financing) Bill

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Lawrence Wong addresses concerns about Developers (Anti-Money Laundering and Terrorism Financing) Bill

(Updated: )

National Development Minister Lawrence Wong replied to questions on the Developers (Anti-Money Laundering and Terrorism Financing) Bill in Parliament on Tuesday (Nov 20). He noted concerns about compliance costs and said a careful balance is being struck to ensure that the burden on developers is not excessive. He also said the Bill is worded to give developers flexibility to comply based on their own considerations, such as business size and customer profile. The Bill was passed.

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