by Willie Tan | Sep 3, 2024 | News
On 2 July 2024, the Anti-Money Laundering and Other Matters Bill (“Bill”) was introduced for its first reading in Parliament. The Bill aims to: Enhance the ability of law enforcement agencies (LEAs) to pursue and prosecute money laundering (ML) offences. Clarify and...
by Willie Tan | Sep 3, 2024 | News
Singapore is set to intensify oversight on nearly 3,000 corporate service providers to bolster anti-money laundering controls. A proposed draft law would impose fines of up to $100,000 per breach on firms and senior management that fail to meet anti-money laundering...
by Willie Tan | Aug 26, 2024 | News
In a recent case highlighting the importance of due diligence in corporate governance, Li Baozhu, the sole director of Corp Nergy Pte Ltd, has been fined $6,500 by the State Court for failing to exercise reasonable diligence in her duties under the Companies Act. This...
