Singapore - Industry efforts to combat money laundering and financial crime

In addition to financial institutions, the recommendations are also relevant for professional service providers outside the financial sector, such as lawyers, accountants and company service providers. The Best Practice Paper on the Misuse of Legal Persons aims to provide (i) a profile of legal persons active in Singapore, and a high-level overview of their risk profile; (ii) typologies and case studies on the misuse of Legal Persons observed in Singapore; (iii) red flags indicating misuse of