Developments in Singapore Anti-Money Laundering Policy and Regulation in the Wake of BSI

Samuel R. Sharpe, Director and Head of the Corporate Crime Investigations Practice Group, Duane Morris & Selvam LLP, Asia

Venue : Stamford American Auditorium (AmCham Office, 1 Scotts Rd, #23-03 Shaw Centre)

Date : November 01, 2016

Time : 7:45 AM - 9:00 AM

Price : $0.00

Description

Hosted by the Financial Services and Legal & IPR Committees

The revocation of the licenses of the Swiss Private Banks Falcon Bank, on 11 October 2016 and BSI, in May 2016 were in some respects watershed moments in the Singapore authorities’ approach to tackling anti-money laundering compliance failures by financial institutions. Financial institutions, as well as law firms, corporate services providers and other organizations who work in the financial system, are the first line of defense against criminal money entering that system. Because of this, those organizations are subject to specific anti-money laundering regulations and requirements. This presentation will look at the rapidly evolving policy approaches to tackling money laundering taken by the authorities. It will look at Singapore’s existing anti-money laundering laws and regulations, what has changed and what changes we are likely to see in the coming months and years.

About the Speaker

Samuel R. Sharpe
Director and Head of the Corporate Crime Investigations Practice Group
Duane Morris & Selvam LLP, Asia

Samuel R. Sharpe is a Director and Head of the Corporate Crime Investigations Practice Group of Duane Morris & Selvam LLP in Asia and is also a member of the firm's dispute resolution department. Sam advises clients on corporate crime investigations, compliance, anti-corruption, anti-money laundering and commercial dispute resolution. He is also an experienced arbitration practitioner in Singapore and has advised on a number of high profile international arbitrations for clients in the construction, energy, insurance and hospitality sectors among others. Sam is an advocate and solicitor of the Supreme Court of Singapore and a solicitor in England and Wales.

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