HomeGovernance, Risk & ComplianceComplianceReport: Singapore’s Regime on Anti-Money Laundering and Countering the Financing of Terrorism Governance, Risk & Compliance Report: Singapore’s Regime on Anti-Money Laundering and Countering the Financing of Terrorism Thomson Reuters | April 28, 2021 Singapore’s openness as an international transport hub and financial centre presents inherent risk exposure to cross-border money-laundering and terrorism financing opportunities. While a strict legislative framework is in place to deal with such risks, businesses which are internationally-oriented and cash-intensive nonetheless remain vulnerable, and include retail and private banks, remittance agents, money-changers, internet-based stored value facility holders, corporate service providers, casinos and pawn brokers. Download Report This expert analysis, written by Bryan Tan and Nathanael Lim from Pinsent Masons MPillay, covers the following: Legislative frameworkOffences under the CDSA and TSFAAdoption of a risk-based approach for the performance of know your customer or customer due diligence (CDD) measures Download Report About the authors Bryan Tan – Partner, Pinsent Masons MPillay Bryan Tan is the Head of TMT practice in Pinsent Masons MPillay Singapore. He is a very experienced practitioner specialising in local and regional aspects of TMT law that merit his excellent market reputation. Nathanael Lim – Senior Associate, Pinsent Masons MPillay Nathanael Lim provides specialist legal advice in the technology sector – payment services, e-wallets, e-money, cryptocurrency, software. He also has experience working in a UK Magic Circle law firm and the Supreme Court of Singapore, the highest judicial institution in the country. This report was orginally published on Thomson Reuters Regulatory Intelligence.