POST-REFORM COORDINATION IN ACTION
Singapore’s response to the Prince Group allegations demonstrates that the reforms introduced in the wake of the S$3 billion money laundering case are functioning.
Following that August 2023 case, an inter-ministerial committee was established in November that year to review Singapore’s AML framework. This led to the establishment of the Anti-Money Laundering Case Coordination and Collaboration Network (AC3N) in late 2024, led jointly by SPF’s Commercial Affairs Department and the Monetary Authority of Singapore.
