Singapore Says Determined to Respond to Financial Crime Risks

MONEY LAUNDERING - SINGAPORE - Singapore faces greater money laundering and terrorism financing risks than other countries because it is an international finance and business hub, Prime Minister Lawrence Wong told a meeting of a global financial crime body on Wednesday.

"But we are determined to do what is needed to respond to these risks and safeguard Singapore's reputation as a trusted financial center," said Wong, who is also Singapore's finance minister, at a Financial Action Task Force (FATF) event.