Singapore has classified digital payment tokens as a high-risk category in the anti-money laundering sector
Singapore's updated AML national threat and risk assessment highlights significant risks in the AML space, particularly in the financial sector, where digital payment token (DPT) service providers pose a greater vulnerability. The 126-page report points to new areas of risk that were not included in the previous report, published in 2014. These include virtual asset service providers as well as gemstone and precious metals traders.