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Clarifying the Role of Local Resident Directors in Singapore
Only through institutional arrangements can the assumption that “local resident directors are not involved in company operations” be transformed into …
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FATF Updates “Jurisdictions under Increased Monitoring” – Compliance Alert (13 June 2025)
On 13 June 2025, the Financial Action Task Force (FATF) released its latest update on jurisdictions under increased monitoring—commonly known as the &…
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AlgoCandy Achieves ISO/IEC 27001 Certification, Reinforcing Commitment to Data Security and Privacy
AlgoCandy, a leading platform in the KYC and AML compliance space, proudly announces that it has been awarded the ISO/IEC 27001:2022 certification by …
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Singapore’s New CSP Act Effective 9 June 2025: Strengthening AML Compliance and CDD Requirements
The Accounting and Corporate Regulatory Authority (ACRA) has announced that the Corporate Service Providers (CSP) Act and accompanying regulations wil…
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Wire Transfer
🔹 Definition A Wire Transfer is an electronic transfer of funds between two financial institutions or individuals, typically conducted through interba…
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Willful Blindness
🔹 Definition Willful Blindness, also known as deliberate ignorance or conscious avoidance, is a legal and compliance concept where a person intentiona…
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Virtual Asset
🔹 Definition A Virtual Asset (VA) is defined by the Financial Action Task Force (FATF) as a digital representation of value that can be digitally trad…
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VAT Validation
🔹 Definition VAT Validation refers to the process of verifying the legitimacy, structure, and registration status of a Value Added Tax (VAT) number as…
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USA PATRIOT Act
🔹 Definition The USA PATRIOT Act—short for “Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terror…
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Unusual Transaction
🔹 Definition An Unusual Transaction is a financial activity that deviates from a customer’s expected behavior or known risk profile, or appears …
