Singapore’s new family office framework raises compliance standards
Singapore has introduced tougher rules for family offices, tightening compliance to deter misuse while allowing more operational flexibility. The move follows its largest money-laundering case, underscoring the push for stricter oversight.
Singapore’s Monetary Authority has overhauled its single family office framework, introducing stricter compliance measures to prevent misuse while enhancing operational flexibility. The move, which includes tightened anti-money laundering (AML) and Combating the Financing of Terrorism (CFT) checks, follows the city-state’s largest money-laundering case in 2023.
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