New laws proposed to prevent misuse of casinos for money laundering, terrorism financing
An overhaul to regulations for Singapore's two casinos will see proposed new laws to prevent them from becoming vessels for money laundering and terrorism financing. The slew of measures are under a proposed updated bill that seeks to keep casinos abreast of emerging risks and protect vulnerable people from the harms of gambling. The bill was last amended in 2012. One proposed change would allow Singapore's two casino operators to share patrons' information with each other. Meanwhile, breaches of a Family Visit Limit could become a punishable offence.
An overhaul to regulations for Singapore's two casinos will see proposed new laws to prevent them from becoming vessels for money laundering and terrorism financing. The slew of measures are under a proposed updated bill that seeks to keep casinos abreast of emerging risks and protect vulnerable people from the harms of gambling. The bill was last amended in 2012. One proposed change would allow Singapore's two casino operators to share patrons' information with each other. Meanwhile, breaches of a Family Visit Limit could become a punishable offence.
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