SINGAPORE: Singapore authorities on Friday announced new measures to tackle money laundering, including inter-agency data-sharing, striking off of inactive companies and channels and programmes to get businesses to report suspicious activities.
The tightened framework follows the formation of a ministerial committee to review rules after the discovery of a massive money laundering network last year, which led to the seizure of more $2.2 billion of assets and the jailing of 10 foreigners for laundering vast sums of money in the Asian financial hub.
