Don Wee on Anti-Money Laundering and Other Matters (Estate Agents and Developers) Bill
Singapore has clear regulations against money laundering in its real estate sector, but the S$3 billion case showed the need for more controls, said MP Don Wee. Welcoming proposed changes to that effect in parliament on Tuesday (Apr 8), he asked what specific and tailored guidelines will be given to estate agents to accurately identify suspicious activities, how the government will ensure that all stakeholders are prepared for compliance, and how various government agencies will collaborate to ensure a cohesive and effective approach to enforcement. He also wanted to know what public education efforts are planned to foster a culture of vigilance against money laundering.
Singapore has clear regulations against money laundering in its real estate sector, but the S$3 billion case showed the need for more controls, said MP Don Wee. Welcoming proposed changes to that effect in parliament on Tuesday (Apr 8), he asked what specific and tailored guidelines will be given to estate agents to accurately identify suspicious activities, how the government will ensure that all stakeholders are prepared for compliance, and how various government agencies will collaborate to ensure a cohesive and effective approach to enforcement. He also wanted to know what public education efforts are planned to foster a culture of vigilance against money laundering.
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