SINGAPORE: Four law firms involved in Singapore’s S$3 billion money laundering case have been named for breaching anti-money laundering obligations. Investigations by the Ministry of Law revealed that firms like Anthony Law Corporation failed to conduct necessary scrutiny on property transactions linked to the laundering scheme.
.jpg?itok=im8K8L3f)
All law practices and lawyers are subject to anti-money laundering obligations under the Legal Profession Act 1966. These include performing an adequate analysis of the risks of money laundering in relation to each client and performing customer due diligence measures that are in line with a client’s risk profile. Lawyers and law firms also have to file a suspicious transaction report with the police if they have reasonable grounds to suspect that a client might be engaged in money laundering.
Expanding on the enforcement action taken, the ministry said Anthony Law Corporation had acted for nine clients to convey 25 properties valued at around S$135 million in total. According to MinLaw, its breaches included inadequate scrutiny of the transactions, which was not commensurate with the clients’ and transactions’ money laundering risks. “Anthony Law Corporation did not corroborate or verify the clients’ explanations for why the transactions were being funded by seemingly unrelated third parties, even though these were red flags,” it said. The firm also failed to comply with documentation requirements. If a law practice or lawyer decides to continue to act for the client despite suspicions of money laundering, they must substantiate and document the reasons for this and adopt commensurate risk…
Read a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try. Click here to return to FAST Tap here to return to FAST FASTSINGAPORE: The Ministry of Manpower reported that the employer in the Sumo Salad work injury case was reimbursed for medical bills on Jun 26-27, 2025, amid ongoing investigations into a potential fraudulent claim linked to the death of the eatery's owner, Ms Jane Lee. While...
Read moreRead a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FAST FASTSINGAPORE: Former Nee Soon Member of Parliament Louis Ng has joined the National University of Singapore’s (NUS) NUS College (NUSC) as an Associate Professor, and will be in a teaching role.In an email from NUSC seen by CNA, it was announced that Mr Ng will be...
Read moreSINGAPORE: Tanjong Katong Road South will gradually reopen starting August 2 after repairs following a sinkhole incident caused by a failed concrete component near a construction site. The Land Transport Authority and PUB confirmed safety through rigorous assessments, while ongoing works will continue in the area to restore utilities. Want More Context? 🔎
Read moreFour men, including former director Samuel Sim Choon Hock, were charged for cheating and falsifying accounts to fraudulently obtain government grants under Workforce Singapore's Professional Conversion Programmes. Their actions resulted in the disbursement of over S$89,000 in salary support and course fee subsidies by misrepresenting salaries and employment statuses between 2018 and 2019. Want More Context? 🔎
Read moreRead a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try. Click here to return to FAST Tap here to return to FAST FASTSINGAPORE: A 17-member steering committee chaired by Acting Transport Minister Jeffrey Siow has been formed to guide the progressive roll-out of autonomous vehicles (AVs) in Singapore, the Ministry of Transport (MOT) announced on Thursday (Jul 31).The committee consists of transport industry representatives from companies such...
Read moreRead a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try. Click here to return to FAST Tap here to return to FAST FASTSINGAPORE: After a fire ripped through two flats in Toa Payoh on Tuesday (Jul 29), two home owners were left grappling with the loss of their units and belongings.The owner of the unit where the fire started told CNA that "everything is gone" and that...
Read more
News Summarized. Time Saved. Bite-sized news briefs for busy people. No fluff, just facts.
