Six types of people most commonly linked to money laundering crimes

SINGAPORE (Sept 21): Despite having one of the strongest anti-money laundering (AML) ecosystems in the region, Singapore continues to struggle with its exposure to money laundering risks.

PricewaterhouseCooper’s 2016 Global Economic Crime Survey finds it to be the city state’s fourth most common financial crime, representing 26% of the country’s economic crimes combined.

Another study, the 2016 Singapore Mutual Evaluation Report of Singapore from Asia/Pacific Group on Money Laundering (APG), reveals that 66% and 27% of money laundering offences and convictions, respectively, were committed overseas over the period 2008-2014.

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