The Singapore government has established a new inter-ministerial committee to bolster its anti-money laundering (AML) measures in light of recent high-profile cases. The committee will review existing AML policies, identify vulnerabilities, and recommend legislative or administrative actions to enhance Singapore’s financial integrity. This initiative underscores the government’s commitment to maintaining its reputation as a trusted global financial hub amidst growing international scrutiny.

Comprising representatives from key ministries and agencies, the committee will focus on coordination across sectors and the strengthening of regulatory frameworks. It aims to ensure that Singapore’s financial system remains robust and resilient against sophisticated money laundering schemes. These efforts reflect a proactive approach to addressing evolving financial crimes while safeguarding the nation’s economic and social stability.