MAS launches consultation on tightening up money laundering controls
Proposed amendments would also crack down on terror financing
The Monetary Authority of Singapore (MAS) yesterday released a consultation paper on proposed amendments to its notices to financial institutions on anti-money laundering and countering the financing of terrorism.
The proposed amendments "draw reference from international best practices and the latest recommendations of the Financial Action Task Force, the global standard-setter for measures to combat money laundering (ML), terrorist financing (TF), and the financing of proliferation," the MAS
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