Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) Industry Partnership (ACIP)

Regulatory Action

MAS strips Apical Asset Management’s license over AML/CFT breaches

A formal reprimand was also issued to CEO and Director Yeh Yin Yee and Director Bernard Kan Cheok Yin for failing to keep AAMPL compliant with these regulations.

Management & Corporate Governance

Best practices to help financial institutions combat money laundering and white-collar crime launched

SINGAPORE (May 14): The Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) Industry Partnership (ACIP) has recommended a set of best practices for financial institutions to guard against trade-based money laundering and the misuse
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