On 29 February 2024, Rajah & Tann organised its monthly seminar series LearningBytes 2024, which brings together subject matter experts to discuss pressing legal and regulatory issues that concern businesses in Singapore and around the region. This month’s seminar focused on “Knowing Your Clients Well: How Financial Institutions Can Improve Risk Management for Money Laundering, Terrorism Financing, and Sanctions Restrictions”.
At the hybrid event, Josephine Chee from the White Collar Crime Practice and Fraud, Asset Recovery & Investigations Practice, and Samuel Lim from the Financial Institutions Group discussed the following: (i) Monetary Authority of Singapore (MAS) expectations in relation to sanctions; (ii) key components of an anti-money laundering/countering the financing of terrorism (AML/CFT) programme; (iii) improving risk management; and (iv) common typologies to prevent potential illicit financial activities.
