FATF: SINGAPORE AML/CFT ASSESSMENT FOLLOW-UP REPORT

On 18th November, FATF published a follow-up report to the 2016 mutual evaluation report on Singapore.  FATF has re-rated the country on a number of Recommendations and Singapore is now compliant on 20 of the 40 Recommendations and largely compliant on 17.  It will remain in enhanced follow-up on the basis that it has 3 Recommendations remaining rated PC for technical compliance, and 7 Immediate Outcomes remaining rated ME/LE (out of which one Immediate Outcome is rated LE) for effectiveness.  In accordance with the FATF Procedures, Singapore will continue to report back to the FATF on progress to strengthen its implementation of AML/CFT measures.

http://www.fatf-gafi.org/media/fatf/documents/reports/fur/Follow-Up-Report-Singapore-2019.pdf

singapore

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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