As an international trade, transport and financial hub, Singapore is exposed to financial threats such as money laundering, terrorism financing and financial scams, with enforcement agencies seizing approximately SGD 6 billion linked to criminal and money laundering activities between January 2019 and June 2024.
Our Corporate & Regulatory Investigations Partners, Joy Tan, Jenny Tsin, Suegene Ang and Ong Pei Chin, and Senior Associate, Joseph Lim, recently contributed to a Chambers and Partners article titled “Singapore: Corporate Investigations/Anti-Corruption – Domestic Overview”.
The article examines key regulatory measures introduced by the authorities to strengthen Singapore’s AML and CFT framework, including the introduction of new obligations for various regulated sectors, improved information-sharing mechanisms, strengthened enforcement tools, and legislative measures to combat financial crime and scams. It also discusses notable developments in 2024 and 2025, including Singapore’s first Deferred Prosecution Agreement, the affirmation of the Tom-Reck test for corporate attribution, and the measures proposed by the Monetary Authority of Singapore to strengthen investor protection in Singapore.
Click here to read the full article.