As an international financial centre and transport hub, Singapore supports global efforts to combat money laundering, terrorism financing and proliferation financing. Thus, since November of 2014, financial institutions operating in Singapore are required to put in place robust controls to detect and deter the flow of illicit funds through Singapore’s financial system. Included within this, businesses would need to identify and know their customers, perform any necessary due diligence, conduct reviews, and monitor and report any suspicious transactions.
Singapore is a member of the Financial Action Task Force (FATF) and a founding member of the Asia / Pacific Group on Money Laundering. It is committed to implementing a robust regulatory and supervisory regime in line with the FATF Standards (2012) and international best practices. Due to this, the hope is that Singapore will be home strictly for safe and legitimate companies, with little to no risk of bad or illegal practices.
MC Corporate recently underwent strict AML/CFT checks and was given the highest grade certification, ensuring that it is a legitimate and professional company. With stringent due diligence and thorough background checks, MC Corporate is able to confirm with utmost confidence that its clients have meaningful and legal intentions. It is one of only a few companies that have been awarded the highest honours in terms of AML/CFT checks.