In light of the recent money laundering probe in Singapore, wealth management industry veterans share their thoughts on how it will affect the industry.
Founder and Group CEO of Golden Equator Group Shirley Crystal Chua shared with The Business Times that while tighter anti-money laundering controls are necessary to enhance security and integrity of the financial industry, the policies should also strike a balance.
“It’s essential to create policies that prevent illicit activities without stifling legitimate business endeavours through an overabundance of red tape,” she added.
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