MAS & CAD launch government-industry partnership to battle financial crimes

SINGAPORE (April 24): The Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD) of the Singapore Police Force today announced the launch of a government-industry partnership, Anti-Money Laundering and Countering the Financing of Terrorism Industry Partnership (ACIP).

In a media release jointly issued by MAS and CAD on Monday, the government agencies say ACIP will strengthen Singapore’s capabilities in the fight against money laundering and terrorism financing (ML/TF) by bringing together selected industry participants, regulators, law enforcement agencies and other government entities to collaboratively identify, assess and mitigate the key ML/TF risks facing Singapore.

ACIP will also enhance the detection and mitigation of transnational risks arising from Singapore’s position as an international financial centre and trade hub, they add.

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