Singapore to clamp down on corporate-service providers after huge money laundering scandal

2023-01-27T103518Z_1623352414_RC

SINGAPORE (Bloomberg): Singapore is planning to tighten its rules governing corporate-service providers, following a spate of money-laundering cases involving foreign nationals in the city state.

All entities providing corporate services - such as business formation and regulatory filings - in and from Singapore will need to be registered with the Accounting and Corporate Regulatory Authority, according to a proposal that was published on Tuesday.