Lawrence Wong on Developers (Anti-Money Laundering and Terrorism Financing) Bill

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Lawrence Wong on Developers (Anti-Money Laundering and Terrorism Financing) Bill

(Updated: )

National Development Minister Lawrence Wong spoke on the Developers (Anti-Money Laundering and Terrorism Financing) Bill in Parliament on Tuesday (Nov 20). The Bill requires property developers to carry out due diligence checks on buyers and report any suspicious activity. It would also bar people convicted of money laundering and terrorism financing from becoming developers. Mr Wong said the measures will bring Singapore in line with international standards.

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