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Singapore betters transparency in AML and beneficiary ownership: FATF

The Financial Action Task Force (FATF) upgraded the rating in four categories of Singapore’s Mutual Evaluation Report (MER) first published in 2016, showing the improvement despite remaining on the enhanced follow-up list. The global watchdog published Singapore’s fourth round of recurring mutual evaluation in 2016 shortly after the 1MDB incident. The report provides a four-grade ranking — compliant (C), largely…

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