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FATF Announces Key Updates on Jurisdictions Under Monitoring – February 2025
The Financial Action Task Force (FATF) released significant updates on 21 February 2025 regarding jurisdictions under increased monitoring and high-ri…
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Singapore Man Jailed for 10 Months for Money Laundering Through Corporate Secretarial Companies
Singapore, February 2025 – A Singaporean man has been sentenced to 10 months in prison after the High Court found him guilty of serious compliance fai…
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Former Director of Corporate Service Provider Charged with 15 Counts Linked to $3 Billion Money Laundering Case
Singapore, January 2025 – A former director of a Corporate Service Provider (CSP) has been charged with 15 offences related to Singapore’s S$3 billion…
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Singapore Director of 980 Companies Jailed for Negligence in Money Laundering Case
In December 2023, Singaporean national Xie Yong, 37, was sentenced to four weeks in jail and fined S$57,000 after pleading guilty to 18 charges under …
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Lessons for CSPs: Singapore’s $2.8 Billion Money Laundering Case Underscores the Importance of Robust AML Compliance
On August 15, 2023, Singapore authorities uncovered a massive money laundering operation involving 10 foreign nationals originally from Fujian, China.…
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AlgoCandy Launches Singapore-Customized AML Compliance Platform
AlgoCandy is proud to announce the official launch of its Singapore-tailored version—a powerful AML/CFT and KYC compliance platform designed specifica…
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Two Singaporean Men Jailed for Acting as Directors of Over 100 Shell Companies in $20 Million Money Laundering Case
Singapore, December 2023 – Two Singaporean men have been sentenced to jail after acting as nominee directors for more than 100 shell companies, whose …
