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Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) Industry Partnership (ACIP)
Anti-money laundering
MAS imposes $1.9 mil penalty on Atrium Asia Investment Management for AML/CFT breaches
The central bank also issued a reprimand to the investment manager’s CEO for failing to ensure the company’s compliance.
30 days ago
Banking & finance
Association of Banks in Singapore launches best practice paper to enhance AML and CFT audits in banks
The paper provides internal auditors within Singapore’s banks and external auditors who work with banks with a common framework to formulate and execute audits pertaining to AML/CFT.
October 21, 2024
Anti-money laundering
Singapore proposes tougher law to catch money launderers
Authorities can now prosecute suspected offenders without needing to directly link illicit gains to the original crime.
July 02, 2024
Regulatory Action
MAS strips Apical Asset Management’s license over AML/CFT breaches
A formal reprimand was also issued to CEO and Director Yeh Yin Yee and Director Bernard Kan Cheok Yin for failing to keep AAMPL compliant with these regulations.
July 29, 2020
Management & Corporate Governance
Best practices to help financial institutions combat money laundering and white-collar crime launched
SINGAPORE (May 14): The Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) Industry Partnership (ACIP) has recommended a set of best practices for financial institutions to guard against trade-based money laundering and the misuse
May 14, 2018