Anti-Money Laundering and Other Matters Bill

Anti-Money Laundering
and Other Matters Bill

Bill No. 20/2024

Read the first time on 2 July 2024.

An Act to amend certain Acts to give effect to certain recommendations of the Financial Action Task Force, to enhance the legal framework for preventing, investigating and prosecuting offences relating to money laundering, terrorism financing and the financing of proliferation of weapons of mass destruction, to provide for the manner in which seized property may be dealt with to preserve its value, to make certain amendments to the procedure by which seized property is dealt with, and to make consequential amendments to the Organised Crime Act 2015.

Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows:

Short title and commencement

1. This Act is the Anti‑Money Laundering and Other Matters Act 2024 and comes into operation on a date that the Minister appoints by notification in the Gazette.

PART 1

AMENDMENT OF CASINO CONTROL ACT 2006

Amendment of section 139

2. In the Casino Control Act 2006, in section 139 —

(a)	in the section heading, replace “and terrorism financing” with “, terrorism financing and financing of proliferation of weapons of mass destruction”;
(b)	in subsection (1), replace “and the financing of terrorism” with “, terrorism financing and the financing of proliferation of weapons of mass destruction,”;
(c)	in subsection (1)(b), replace “$10,000” with “$4,000”;
(d)	in subsection (1)(c), replace “$5,000” with “$4,000”; and
(e)	in subsection (1)(d), replace “or terrorism financing activity” with “, terrorism financing or the financing of proliferation of weapons of mass destruction”.

Amendment of section 200

3. In the Casino Control Act 2006, in section 200(2)(zb), replace “and the financing of terrorism” with “, terrorism financing and the financing of proliferation of weapons of mass destruction”.

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