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Home » Accounting Services » How Accountants Help in Regulating Money Laundering and Terrorists Financing Activities?

How Accountants Help in Regulating Money Laundering and Terrorists Financing Activities?

SME in Singapore – Regulating Money Laundering and Terrorists Financing Activities

Anti Money Laundering | Accountants Singapore | AML CFT MeasuresBeing a financially responsible business is essential in becoming or staying a significant player in the global economy.

It is one thing to take to vast sums of money and even medium amounts, but not knowing where this money is coming from can sometimes land your business in trouble without you even knowing it.

That is why making sure that your accountants or even electing an employee the specific task of monitoring, checking, and maintaining real identities on the source of money coming into your business are crucial.


Money laundering is no secret, and this is happening every day around the world. People make large sums of money and want to hide it from either their government or tax authorities. There is also money laundering from illegal activity, and that these funds should be kept private.

It is an everyday issue. Businesses, although keen to take in money, have to be very careful if they are dealing with large sums of money so that they are not taking in money that is illegal for some other reasons.


Implementing a system within your accounting practices is one way to protect yourself from money launderers and terrorists financing.

Verifying a physical address is very important to verifying where money is coming from. Asking for identification, and verifying that as well is important.

Although no plan is foolproof, the more obstacles you put in a criminal way the more they are going to move to the businesses that have less security measures.


Terrorist money has to go somewhere, and you want to screen your incoming customers (new or existing) with their money to rule out any money you are receiving is from a terrorist source which may lead you to some trouble down the road if you are involved in some terrorists related activities.

Implementing a checking system within reason is a good way to alleviate problems in the future and much cheaper than having to suffer through an investigation.


Have a conversation with your accountants so that the two of you can come up with a plan or systematic approach to proper identify the businesses or individuals that are bringing large sums of money through your organisation.

These small steps can help you save money in the long run and gain respect in the business world that runs under moral guidelines and practices.


Being responsible in this global economy is a must for not only saving money but making it as well.

Real business people want to do business with other responsible business owners. When you implement a system within your accounting practices to track where the money is coming from, this makes it harder for irresponsible companies to conduct business which in the long run costs us all more money.

So join the thousands of responsible global business leaders and implement your secure identification in accounting today.  

Our accounting service team can share with you how we can assist your company to implement operational procedures to regulate money laundering and terrorist financing activities.

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