April 24 2017
Singapore is taking more concerted efforts in 2017 to help police its domestic infrastructure, looking to ramp up its defenses against money laundering and terrorism financing. This has culminated in a new pact between the Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD) of the Singapore Police Force.The newly inked government-industry partnership will aim to strengthen Singapore’s capabilities in the fight against money laundering and terrorism financing. This area of focus has metastasized across the financial services industry over the past few years, leading to a litany of security challenges, hacks, and other episodes of money laundering or abuse.