Singapore May Step Up Money Laundering, Terror Finance Rules

Agencies involved in the study included MAS, the customs bureau, the casino regulator, the finance, home affairs and law ministries , and the Accounting and Corporate Regulatory Authority. Accountants and other corporate service providers can be exposed to money laundering and terrorist financing activities if higher-risk customers hire them to set up complex structures that conceal ownership and reduce the transparency of transactions, according to the study. Tax Evasion Singapores central bank is stepping up its anti-money laundering rules in line with global regulations following U.S. For the original version including any supplementary images or video, visit http://www.bloomberg.com/news/2014-01-10/singapore-may-step-up-rules-on-money-laundering-terror-finance.html