Anti-Money Laundering – Some Points to Note
Every year, Law Society of Singapore conducts anti-money laundering inspections (the inspections) into 50 law firms. Small, medium and large law firms with varying practices are inspected and the inspections cover both Singapore law practices and foreign law practices. The
Prevention of Money Laundering and Financing of Terrorism
Revision and Update of Council's Practice Direction 3.2.1 on Prevention of Money Laundering and Financing of Terrorism Introduction It is estimated that up to US$ 2 trillion of dirty money is laundered globally every year. Although the main focus on anti-money laundering
Amendments to the Trustees Act and Regulations from the Anti-Money Laundering Perspective
On 31 March 2017, the Trustees (Amendment) Act 2017 (“TAA 2017”) took effect. The TAA 2017 makes it easier for lawyers to obtain information for compliance with existing customer due-diligence measures under the Legal Profession Act. The availability of information