News and Articles

Trade-Based Money Laundering (TBML) is one of the most prevalent money laundering methods encountered by professional firms in the Designated Non-Financial Businesses and Professions (DNFBP) sectors. This method primarily involves exploiting the vast volume of global trade and the complexities...

In 2023, Singaporean authorities uncovered a scheme that allegedly facilitated the money laundering of billions of dollars through various businesses, including gambling and online gaming platforms. The operation was characterized by its sophisticated methods, utilizing shell companies and complex financial...

Licensed warehouse operators play a critical role in global supply chains, facilitating the storage and movement of goods. However, this essential function also makes them attractive targets for criminals seeking to launder money or engage in illicit activities. Understanding these...

In the realm of combating financial crimes, the efforts of Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) have become indispensable safeguards for organizations across various sectors. While traditionally associated with financial institutions, the imperative for robust AML/CFT practices extends...

Corporate Service Providers (CSPs) play a crucial role in facilitating the establishment, administration, and management of companies. However, due to their involvement in financial transactions and corporate structures, CSPs are vulnerable to exploitation by money launderers and terrorist financiers. The...

Overview of the New Requirements for Developers against Money Laundering and Terrorism Financing In an effort to strengthen regulatory levers in Singapore against money laundering (“ML”) and terrorism financing (“TF”) in the real estate sector, Urban Redevelopment Authority (URA) has...