SINGAPORE AND HONG KONG ENACT DETAILED AML/CFT REFORMS TO PRESERVE GLOBAL REPUTATION FOR FINANCIAL PROBITY
January 1st, 2019
THE DYNAMIC east Asian powerhouses of Hong Kong and Singapore are both models for good practice in anti-money laundering/combating the financing of terrorism (AML/CFT) – sharing both an efficient and open UK-inspired legal system and a need for a clean image internationally that helps maintain their status as hubs of global trade and finance.
Arguably, Singapore’s AML accomplishments are more impressive than Hong Kong’s, but Hong Kong is clearly not sleeping – although no experts consulted by MLB were willing to overtly compare the two jurisdiction’s ...
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