Charities Lean Forward: Strengthening Charities Against Money Laundering and Terrorist Financing – Next Steps

Charities play a vital role in society by addressing social, humanitarian and charitable needs. As global threats of Money Laundering and Terrorist Financing continue to evolve, charities are vulnerable to exploitation for such illicit purposes given their diverse networks and nature of activities beyond Singapore if their financial and internal controls do not commensurate with their risk exposures. The consequences, including legal and financial repercussions, reputational damage as well as disruption of services to beneficiaries, can be severe.

The Ministry of Home Affairs and the Singapore Police Force will share deeper insights into recent trends in Money Laundering (ML), Terrorist Financing (TF) typologies, as well as the role of charities in combatting ML/TF, including the reporting of suspicious transactions and activities to the Suspicious Transaction Reporting Office (STRO).

With Ms Regana Mydin (Learning & Development Manager, Rajah & Tann Asia Academy) returning as moderator, panellists will explore newly introduced initiatives developed to provide charities with the tools and knowledge to strengthen their AML/CFT measures, and discuss case scenarios and practical strategies to mitigate ML and TF risks. Panellists include Ms Elaine Chan (Board Director, Chairman of the Grants Committee, Caritas Humanitarian Aid & Relief Initiatives (Singapore) Ltd), Mr Danny Ong (Managing Director, Setia Law), and Mr Jason Tan (Partner and Head of Forensic, KPMG Singapore).

Join us to learn actionable steps that can safeguard your charity against emerging risks of ML and TF abuse.

This webinar is presented by the Office of the Commissioner of Charities and Pro Bono SG.