'Anti-Money Laundering Act revision will support regulatory framework'

The revised Act means the Government will focus on identifying and targeting high-risk NPOs, rather than imposing blanket restrictions on the entire sector. 

Parliament on January 23, 2025, amended Schedule 2 of the Anti-Money Laundering Act, Cap. 118, exempting non-governmental organizations (NGOs), churches, and other charitable organisations from the list of accountable persons in the fight against money laundering.