Singapore tightens casino cash deposit threshold and due diligence checks for anti-money laundering, aligning with FATF standards.
Singapore plans to tighten casino regulations, requiring stricter due diligence checks on cash deposits above S$4,000 (down from S$5,000). This is the first threshold revision and aligns with the Financial Action Task Force (FATF) standards, aiming to combat money laundering and terrorism financing. The updated measures are part of Singapore's National Strategy for Countering the Financing of Terrorism.
July 01, 2024
3 Articles