Transcription of Executive Summary EXECUTIVE SUMMARY - FATF …
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Preface EXECUTIVE SUMMARY EXECUTIVE SUMMARY . 1. This report provides a SUMMARY of the anti-money laundering and combating the financing of terrorism (AML/CFT) measures in place in Singapore as at the date of the on-site visit (17 November 2015 to 3 December 2015). It analyses the level of compliance with the FATF. 40 Recommendations and the level of effectiveness of Singapore's AML/CFT system, and provides recommendations on how the system could be strengthened. Key Findings Singapore's AML/CFT coordination is highly sophisticated and inclusive of all relevant competent authorities. Driven by the AML/CFT Steering Committee and the Inter-Agency Committee, the coordination mechanism in Singapore is a very valuable tool in AML/CFT policy development. This proved to be true in the development of the National Risk Assessment (NRA). and the cooperation and organisation associated with this mutual evaluation exercise. Singapore has a strong focus on law and order and enforcement, which often result in dissuasive penalties.
Anti-money laundering and counter-terrorist financing measures in Singapore – 2016 @ FATF and APG 2016 3 Preface Executive Summary EXECUTIVE SUMMARY
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Risk Assessment and Effective and, Assessment, Risk, Risk Assessment, Get a grip on operational risk, Financial, RISK ASSESSMENTRISKASSESSMENT Risk, Mastering operational risk, Operational Risk, Physical Security, Crime, Safer financial sector to serve South, Supervisory Intervention, Money laundering and terrorist financing, Money Laundering and Terrorist Financing Measures