"Singapore's latest National Risk of Money Laundering (NRA) report highlights major risks in the anti-money laundering (AML) space, especially in the financial industry, with payment token service providers digital technology (DPT) creates many threats 🏦

- Banking and asset management top the list of money laundering risks.

- In the financial industry, DPT service providers stand out as a high-risk category.

- Although global DPT operations in Singapore account for only a small portion, the authorities still closely monitor related risks.

- Common money laundering methods include hiding illegal funds in Singapore bank accounts, using fake companies and investing in valuable assets such as real estate or precious metals.

- Singapore's status as an international financial center and its economic openness expose it to money laundering risks.

Let's discuss this issue in the comments section!#cryptocurrency#blockchain #Singapore"