Singapore Cracks Down on Casino Cash Deposits to Counter Exploitation by Criminals

Singapore will lower the threshold for checks on cash deposits received by casinos in a bid to prevent exploitation by terrorist and criminal organizations.

Read More: Singapore Says It Has Seized $4.4 Billion in Dirty Money Since 2019

The new rule, to come into effect this year, will require casino operators to conduct due diligence checks on cash deposits of at least S$4,000 ($2,950) from a customer, lower than the current threshold of S$5,000.

The rule is among fresh measures laid out in Singapore’s updated National Strategy for Countering the Financing of Terrorism published Monday.

Singapore Cracks Down on Casino Cash Deposits to Counter Exploitation by Criminals

Singapore Cracks Down on Casino Cash Deposits to Counter Exploitation by Criminals

Singapore Cracks Down on Casino Cash Deposits to Counter Exploitation by Criminals

Singapore Cracks Down on Casino Cash Deposits to Counter Exploitation by Criminals

Singapore Cracks Down on Casino Cash Deposits to Counter Exploitation by Criminals