Singapore unveils new anti-money laundering measures, including inter-agency data-sharing
New measures unveiled to address money laundering in Singapore will see more inter-agency data sharing, as well as inactive companies struck off and businesses roped in to 'red-flag' suspicious activities. These measures will be rolled out progressively over the next year. Meanwhile, people who work with high-value items, such as luxury cars and expensive art, will also undergo specialised training to recognise the telltale signs of suspicious transactions. And, in a few years, Singapore government agencies will have access to all reports of suspicious transactions on an online platform called NAVIGATE. Nasyrah Rohim and Nadirah Zaidi report.
New measures unveiled to address money laundering in Singapore will see more inter-agency data sharing, as well as inactive companies struck off and businesses roped in to 'red-flag' suspicious activities. These measures will be rolled out progressively over the next year. Meanwhile, people who work with high-value items, such as luxury cars and expensive art, will also undergo specialised training to recognise the telltale signs of suspicious transactions. And, in a few years, Singapore government agencies will have access to all reports of suspicious transactions on an online platform called NAVIGATE. Nasyrah Rohim and Nadirah Zaidi report.
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