{"id":1958,"date":"2022-04-05T01:13:10","date_gmt":"2022-04-05T01:13:10","guid":{"rendered":"https:\/\/insight.thomsonreuters.com\/sea\/business\/?p=1958"},"modified":"2024-06-25T06:05:30","modified_gmt":"2024-06-25T06:05:30","slug":"singapore-to-assume-fatf-presidency","status":"publish","type":"post","link":"https:\/\/insight.thomsonreuters.com\/sea\/business\/posts\/singapore-to-assume-fatf-presidency","title":{"rendered":"Singapore to assume FATF presidency"},"content":{"rendered":"\n

A senior international advisor at Singapore’s Ministry of Home Affairs is to become the first Singaporean to lead the Financial Action Task Force (FATF) since the city-state joined in 1992.<\/p>\n\n\n\n

T Raja Kumar will replace Marcus Pleyer as the next president for a two-year fixed term, beginning on July 1.<\/p>\n\n\n\n

“Raja’s capabilities, international experience and work as a senior public sector leader, operating in a multi-ethnic and multi-cultural environment across a range of disciplines, will come in useful to lead an international organisation such as the FATF,” said K Shanmugam, Singapore’s minister for home affairs and law.<\/p>\n\n\n\n

FATF was established in 1989 by the Group of Seven, and sets international standards to prevent and combat money laundering<\/a>, terrorism and proliferation financing. The FATF also evaluates and monitors member jurisdictions to ensure they implement FATF standards fully and effectively.<\/p>\n\n\n\n

Singapore presidency<\/h2>\n\n\n\n

Kumar has been head of Singapore’s delegation to the FATF since January 1, 2015. <\/p>\n\n\n\n

“Raja has been active in leading Singapore’s efforts against money laundering and terrorism financing,” the Monetary Authority of Singapore (MAS) said.<\/p>\n\n\n\n

He has served as co-chair of the National Interagency Committee on Anti-Money Laundering and Countering Financing of Terrorism (AML\/CFT) since January 2015 and has driven Singapore’s efforts to meet FATF standards, MAS said.<\/p>\n\n\n\n

“Singapore strongly supports the outstanding work of the FATF in establishing and implementing global standards to combat money laundering and terrorism financing,” said Lawrence Wong, Singapore’s minister for finance.<\/p>\n\n\n\n

About the author<\/h2>\n\n\n\n
\"\"
Yixiang Zeng is Southeast Asia Correspondent Cover at Thomson Reuters Regulatory Intelligence. She covers financial regulatory framework developments in Southeast Asia with a focus on banking, wealth management, securities and fund management groups.<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

A senior international advisor at Singapore’s Ministry of Home Affairs is to become the first Singaporean to lead the Financial Action Task Force (FATF) since the city-state joined in 1992.…<\/p>\n","protected":false},"author":107,"featured_media":1959,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[697,660,701],"tags":[138,816,457],"insight_job_role":[831,775,713,712,714,812,715,845,834],"insight_practice_area":[],"class_list":["entry","author-corpadmin","post-1958","post","type-post","status-publish","format-standard","has-post-thumbnail","category-compliance","category-governance-risk-compliance","category-regulatory-intelligence","tag-compliance","tag-financial-crime","tag-regulatory-intelligence","insight_job_role-anti-money-laundering-officer","insight_job_role-audit-manager","insight_job_role-chief-financial-officer","insight_job_role-chief-information-officer","insight_job_role-chief-operations-officer","insight_job_role-chief-risk-officer","insight_job_role-compliance-risk-manager","insight_job_role-compliance-officer","insight_job_role-money-laundering-reporting-officers","hentry"],"acf":[],"yoast_head":"\nSingapore to assume FATF presidency -<\/title>\n<meta name=\"description\" content=\"Singapore to assume FATF presidency\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insight.thomsonreuters.com\/sea\/business\/posts\/singapore-to-assume-fatf-presidency\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Singapore to assume FATF presidency -\" \/>\n<meta property=\"og:description\" content=\"Singapore to assume FATF presidency\" \/>\n<meta property=\"og:url\" content=\"https:\/\/insight.thomsonreuters.com\/sea\/business\/posts\/singapore-to-assume-fatf-presidency\" \/>\n<meta property=\"og:site_name\" content=\"TR - 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