RISK ASSESSMENT: SINGAPORE MONEY REMITTANCE SECTOR POSES HIGH TERRORISM FINANCING RISK

On 12 January, Regulation Asia reported that the MAS (Monetary Authority of Singapore) on 30 December released Singapore’s Terrorism Financing National Risk Assessment for 2020, outlining key terrorism financing threats and vulnerabilities to the city-state.  It found that Singapore continues to be exposed to threats posed by terrorist groups both regionally and internationally, in particular the propensity for individuals in Singapore to be radicalised and influenced to carry out terrorist financing activities.  It says that the money remittance sector poses the highest risk of being exploited.

https://www.regulationasia.com/singapore-money-remittance-sector-poses-high-tf-risk-mas/

The risk assessment report is at –

https://www.mas.gov.sg/-/media/MAS/Regulations-and-Financial-Stability/Regulatory-and-Supervisory-Framework/Anti_Money-Laundering_Countering-the-Financing-of-Terrorism/TF-NRA/Terrorism-Financing-National-Risk-Assessment-2020.pdf

If you would like to make a (polite) gesture and make a (very) modest contribution to my ongoing with my relocation, removal and computer costs, I have a page 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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