Singapore to tighten casino rules to counter terrorism funding

Current threshold lowered

Bloomberg
·1-min read
Gaming chips are arranged in a tray during the Global Gaming Expo Asia (G2E Asia) in Macau, China, on Tuesday, May 21, 2019. (Photographer: Paul Yeung/Bloomberg via Getty Images)
Gaming chips are arranged in a tray during the Global Gaming Expo Asia (G2E Asia) in Macau, China, on Tuesday, May 21, 2019. (Photographer: Paul Yeung/Bloomberg via Getty Images)

By: Harry Suhartono

(Bloomberg) — Singapore will lower the threshold for checks on cash deposits received by casinos in a bid to prevent exploitation by terrorist and criminal organisations.

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 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.

More stories like this are available on bloomberg.com

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