Singapore to enhance AML/CFT/CPF framework following 2026 FATF Mutual Evaluation Report.
The Government is addressing gaps identified by the FATF, specifically regarding beneficial ownership transparency for trusts and legal persons, proliferation-financing mitigation, and the proportionality of sanctions for financial institutions and VASPs.
Why it mattersLawyers and compliance officers should prepare for stricter verification requirements for beneficial ownership and a revised sanctions regime.