Sun Xueling on inter-ministerial committee reviewing Singapore’s anti-money laundering regime

The inter-ministerial committee which was set up at the end of 2023 to review Singapore’s anti-money laundering regime will consider the increasingly sophisticated ways by which criminals may seek to exploit the country’s systems and make recommendations to ensure that the regime remains effective in preventing, detecting and enforcing against such crimes. It will share its full findings and recommendations in the fourth quarter of the year. Minister of State for Home Affairs Sun Xueling said this in Parliament on Tuesday (Jul 2) in reply to an MP’s questions. She added that the adequacy of penalties prescribed in the law is regularly reviewed, the last time being in 2023.