Environmental Crimes Money Laundering National Risk Assessment

The Environmental Crimes ML NRA assessed that Singapore’s key exposure to environmental crimes ML stems from our position as an international financial center, and a trading and transit hub, with a highly externally-oriented economy. Singapore is susceptible to threats that emanate from illegal wildlife trafficking, illegal logging, and waste trafficking, which are prevalent in Southeast Asia.

The relevant law enforcement agencies, financial intelligence units, policy and supervisory agencies will continue to stay vigilant of the risks identified and raise the private sector’s risks awareness. Financial institutions and designated non-financial businesses and professionals (such as corporate service providers and precious stones and metals dealers) should also take reference from the Environmental Crimes ML NRA in assessing their environmental crimes ML risks and enhance their controls as appropriate.