Global watchdog gives Singapore top anti-money laundering rating, but flags weaknesses in penalties, cooperation

$3b money laundering case exposed gaps in S’pore’s corporate gatekeeping systems: FATF

The case accounted for 47 per cent of the $6.3 billion in seizures from 2020 to 2024. Read more at straitstimes.com.

Global watchdog gives Singapore top anti-money laundering rating, but flags weaknesses in penalties, cooperation

S$3 billion money laundering case showed Singapore's appeal to criminals but also the strength of its response, says the Financial Action Task Force's periodic review.

Canada Financial Watchdog Slaps Penalty on Birks

The Canadian government’s financial regulator has imposed a penalty of $51,563 on Birks Group, citing non-compliance associated with money laundering and terrorist financing. The Canada-based jeweler was found by the Financial Transactions and Reports Analysis Centre (FINTRAC) to have failed to develop and apply written compliance policies and procedures that are kept up-to-date and approved by a senior officer, the watchdog said Tuesday. It als…

Singapore banks getting better at spotting dirty money, but penalties still lack bite, says global watchdog

FATF recognises role of Republic’s strong public-private cooperation and information collaboration in curbing money laundering

Singapore's framework against financial crimes such as money laundering shows marked improvement: Report

Singapore received the strongest possible outcome in the latest assessment published by the Financial Action Task Force (FATF), reflecting the existence of a robust framework to combat financial crimes.The assessment, conducted between 2020 and 2025, showed that Singapore's governance structures and legal framework to address money laundering, terrorism financing and proliferation financing risks are in line with the international body's expecta…