Jul 2, 08:45 AM

Singapore Tightens Measures Against Money Laundering, Raises Risk for Digital Payment Tokens

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

Written with ChatGPT (GPT-4o).

Sources

CryptoSlate@CryptoSlate
2 years ago
Singapore raises risk level for digital payment token providers in counter-terrorism update via @hardeyjumoh https://t.co/UR5wK2r8W6
coinscope@coinscopecrypto
2 years ago
📣 Latest News: Singapore ups crypto exchanges risk factor under new law update #news #cryptonews #crypto
Reuters@Reuters
2 years ago
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

Additional media

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