Mar 23 2020 - OrionW
On 19 March 2020, the Monetary Authority of Singapore imposed a composition penalty of S$400,000 on a trust company for non-compliance with anti-money laundering and countering the financing of terrorism requirements under the Monetary Authority of Singapore Act.
The COVID-19 outbreak is now a pandemic. Company boards should review and implement their business continuity plans. Companies without such plans can still implement meaningful steps to minimise damage to their businesses.