Singapore publishes updated money laundering national risk assessment

Fraud by crime syndicates located overseas and organised crimes are key money laundering threats that Singapore faces, according to an updated national risk assessment. The report also highlights that the banking sector poses the highest risk to Singapore. Anke Raufuss, Partner in McKinsey’s Risk Practice, discusses the impact the review will have on the back of the recent billion-dollar money laundering case. She also outlines the key factors taken into consideration when determining a particular country's risk of being taken advantage of by such activities.