Singapore’s 2026 FATF Mutual Evaluation Report: Key AML/CFT/CPF Insights and Implications for Professional Firms
In May 2026, the Financial Action Task Force (FATF) and the Asia/Pacific Group on Money Laundering (APG) released the Mutual Evaluation Report (MER) of Singapore. This assessment evaluates the effectiveness of the country’s anti-money laundering, counter-terrorist financing, and counter-proliferation financing (AML/CFT/CPF) measures. Overview of the Mutual Evaluation Report Findings Singapore was assessed as having robust […]
Australia AUSTRAC Tranche 2 Enrolment FAQ: What You Need to Know Before July 2026 – Deadlines, Requirements & Penalties
Sector 1: Am I Required to Enrol? 1. What actually triggers the requirement to enrol with AUSTRAC? If your business provides one or more “designated services” listed in Section 6 of the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act and has a geographical link to Australia, you are legally required to enrol. You can verify […]
AUSTRAC Enrolment Now Open for Tranche 2 Entities: A Practical Guide to AML/CTF Enrolment and Compliance
AUSTRAC opened enrolment for Tranche 2 entities on 31 March 2026, with full AML/CTF obligations commencing on 1 July 2026. If your business provides designated services — including legal services, accounting, conveyancing, real estate agency activities, property development, or dealing in precious metals and stones — you are now a reporting entity under Australia’s expanded […]
Navigating AML/CTF Compliance in Australia: A Guide for Tranche 2 Entities Under the Amendment to the AML/CTF Act Effective 2026
Australia’s AML/CTF regime has evolved with the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Amendment Bill 2024, passed in December 2024. The legislation amends the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 to align Australia’s AML/CTF framework with the global standards of the Financial Action Task Force (FATF), strengthening its ability to prevent, detect, and disrupt […]
Mitigating Proliferation Financing Risks for DNFBP in Malaysia
In the ever-evolving landscape of Anti-Money Laundering (AML), Counter Financing of Terrorism (CFT), Countering Proliferation Financing (CPF) and Targeted Financial Sanctions (TFS), staying updated on the latest compliance regulations and remaining vigilant to risks is crucial for Reporting Institutions in Malaysia. With the increasing concerns over the proliferation of nuclear, biological, and chemical weapons, the Ministry […]
Latest Updates on Hong Kong Anti-Money Laundering Regulations
Updated on 2023/07/20 The Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 was passed by the Legislative Council of Hong Kong in December 2022. The new legislation, including the establishment of a registration regime for Dealers in Precious Metals and Stones (“DPMS”) and a licensing regime for Virtual Asset Services Providers (“VASP”), as well as […]
How to prepare for Bank Negara Malaysia (BNM) AML/CFT Compliance Review – A checklist for busy professionals
On 31 Dec 2019, the Malaysia’s Bank Negara (BNM) has issued a new guideline on Anti-Money Laundering, Countering Financing of Terrorist (AML/CFT) and Targeted Financial Sanctions for Designated Non-Financials Businesses and Professions (DNFBPs) and Non-Bank Financial Institutions (NBFIs) ( i.e. the AML/CFT and TFS for DNFBPs and NBFIs ), to be effective on 1 Jan […]
How to prepare for Law Society AML/CFT review – A checklist for busy lawyers
Since the implementation of Part VA of the Legal Profession Act on Prevention of Money Laundering and Financing of Terrorism, and the accompanying Legal Profession (Prevention of Money Laundering and Financing of Terrorism) Rules on 23 May 2015, the Law Society has conducted independent reviews on its members to assist the members in the compliance […]
The Importance of On-Going Monitoring
In Nov 2017, a veteran Managing Director lawyer with 15 years of experience in conveyancing work, and a Senior Marketing Director of an international real estate agent were both charged in the Singapore Courts for failing to report to the authorities a suspicious property deal in the Sentosa Cove district. The charges were under the […]
Veteran lawyer suspended for breaching Law Profession Act AML/CFT Rules – How to conduct customer due diligence?
A veteran lawyer of 18 years’ standing was suspended in late-Sep 2017, from practice for two years and fined $100,000 for professional misconduct in a case relating to anti-money laundering (AML). In what had started out “innocuously” as an incident of breaching professional conduct rules, the case was eventually escalated into that of aiding money […]