Singapore’s Inter-Ministerial Committee (IMC) has released a report outlining enhanced strategies to strengthen the nation’s anti-money laundering (AML) framework. Following a significant money laundering case in August 2023, the IMC emphasizes a whole-of-society approach, urging collaboration between frontline stakeholders and the government to combat increasingly sophisticated laundering tactics. The report focuses on five key areas: preventing misuse of corporate structures, enhancing financial institutions’ controls, bolstering defenses among gatekeepers like corporate service providers and real estate agents, centralizing monitoring across government agencies, and reinforcing enforcement mechanisms. The recommendations aim to bolster Singapore’s AML framework while maintaining an open environment for legitimate businesses, focusing on proactive prevention, timely detection, and effective enforcement to safeguard the nation’s financial systems against evolving financial crimes.