|MAS participates actively in global efforts to combat money laundering, aimed at preserving the integrity of the global financial system. Singapore has been a member of the Financial Action Task Force since 1991, and is also one of the founding members of the Asia-Pacific Group on Money Laundering (APG), which encourages the adoption, implementation and enforcement within the Asia-Pacific region of internationally accepted anti-money laundering standards.
MAS, together with the Commercial Affairs Department of the Singapore Police Force, hosted the 4th APG Typologies Workshop on Money Laundering on 17-18 October 2001 which brought together more than 100 law enforcement and regulatory experts from 23 jurisdictions in the Asia-Pacific region. The Workshop focused on ways to combat money laundering of proceeds generated by drug trafficking and financial crime, and the use of underground banking and alternative remittance systems to launder money.
Singapore is fully committed to the global fight against terrorism, and has signed various anti-terrorism conventions, including the United Nations International Convention for the Suppression of the Financing of Terrorism. MAS participates in the Singapore Inter-Ministerial Task Force on Anti-Terrorism, set up shortly after September 11.