News and Articles

The New Corporate Service Providers Regulations and Guidelines: Top 3 Requirements and Compliance Steps CSP Need to Know

(Updated on 22 May 2025) Singapore’s Corporate Service Providers (CSP) Act 2024 was passed by Parliament on 2 July 2024, and the Corporate Service Providers Regulations 2025 will come into effect on 9 June 2025, marking a significant step in strengthening the nation’s anti-money laundering, countering proliferation financing and countering...

AMLCFT Framework for Nominee Directors and Corporate Service Providers

Singapore’s New AML/CFT Sentencing Framework for Nominee Directors: Implications for Corporate Service Providers

A recent landmark ruling by the Singapore High Court has sent a strong message to corporate service providers (CSPs), particularly those offering nominee director services. The court has established a stiffer sentencing framework for “silent” company directors who fail to...

Updates on Companies Registry Guideline on AMLCFT for TCSPs

2025 New Updates on Companies Registry’s Guideline on AML/CFT for TCSPs – Overview and Practical Guidance to Comply with the Latest Requirements

The Companies Registry (CR) has updated the Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) for Trust or Company Service Provider Licensees (TCSPs), set to take effect on 3 March 2025, in order to align with the latest international...

Understanding Trade-Based Money Laundering (TBML): Techniques, Case Study, Red Flags and Best Practices for Risk Mitigation

Trade-Based Money Laundering (TBML) is one of the most prevalent money laundering methods encountered by professional firms in the Designated Non-Financial Businesses and Professions (DNFBP) sectors. This method primarily involves exploiting the vast volume of global trade and the complexities...

AML/CFT Regulations in Malaysia: Unpacking the Differences Between SSM and BNM Regulations

Both the Companies Commission of Malaysia (SSM) and Bank Negara Malaysia (BNM) play pivotal roles in Malaysia’s Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) efforts. While they share the common goal of combating financial crimes, their regulatory frameworks differ...

Lessons from the Singapore’s S$3 Billion Fujian Gang Money Laundering Case: A Wake-Up Call for Corporate Service Providers

In 2023, Singaporean authorities uncovered a scheme that allegedly facilitated the money laundering of billions of dollars through various businesses, including gambling and online gaming platforms. The operation was characterized by its sophisticated methods, utilizing shell companies and complex financial...