Singapore is implementing new measures to combat money laundering and terrorist financing. The city-state will lower the threshold for checks on cash deposits received by casinos to prevent exploitation by criminal groups. Additionally, Singapore is introducing legislation to tighten gaps around policing illicit money flows after a high-profile case, making it easier to prosecute money laundering cases. The home affairs ministry highlighted that some cases are currently not pursued unless the complete money trail is shown. Furthermore, Singapore has raised the risk level for digital payment token providers under a new law update aimed at counter-terrorism.
Singapore raises risk level for digital payment token providers in counter-terrorism update via @hardeyjumoh https://t.co/UR5wK2r8W6
📣 Latest News: Singapore ups crypto exchanges risk factor under new law update #news #cryptonews #crypto
Singapore is seeking to make it easier for law enforcement to prosecute money laundering offenses in the city-state, the home affairs ministry said, noting how currently some cases are not pursued unless it is possible to show the complete money trail https://t.co/J8hu86fr1H
Singapore introduces legislation designed to tighten gaps around policing illicit money flows after a high-profile case that rocked the Asian financial hub https://t.co/ATEA6t1WyQ
Singapore aims to make it easier to prosecute money laundering cases https://t.co/YLVeBRFx8G https://t.co/HFCim5mMCK
Singapore will lower the threshold for checks on cash deposits received by casinos in a bid to prevent exploitation by terrorist and criminal groups. https://t.co/mMi968Kb8R