MAS & CAD to Combat Money Laundering
Currently Singapore has a separate government department and task force to look into the prevention of money laundering. This issue is still very prevalent in Singapore today. To reinforce our efforts, we have a joint partnership between Monetary Authority of Singapore (MAS) and Commercial Affairs Department (CAD) to chair a task force and work together with 8 banks (both local and foreign) to combat this issue and continue to maintain and ensure a good “risk culture” within each organisation.
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