MAS finalises AML/CFT rule changes effective 30 June 2025, expanding ML definitions to cover PF, tightening STR timelines, enhancing KYC for trusts/ shell firms, and aligning with FATF standards 

The revised framework expands ML definitions to include proliferation financing, tightens STR reporting timelines, and enhances due diligence requirements for trusts, legal arrangements, and shell companies. It also strengthens KYC measures, screening protocols, and SoW/SoF verification standards. The changes aim to align Singapore’s regime with FATF standards, improve cross-border information sharing, and ensure that financial institutions escalate high-risk activities more promptly and effectively…