The Monetary Authority of Singapore (MAS) announced it is working closely with the Singapore Police Force through the Anti-Money Laundering Case Coordination and Collaboration Network (AC3N) to follow up on the case involving Prince Holding Group, and will conduct supervisory reviews of financial institutions with a nexus to the case. AC3N, led by the Commercial Affairs Department of the Singapore Police Force and MAS, brings together relevant sector supervisors, law enforcement agencies and intelligence agencies involved in combatting money laundering in Singapore. MAS noted that financial institutions have filed suspicious transaction reports since 2022 and that some have undertaken risk mitigation measures such as closing suspicious accounts, which it said helped avert larger sums from being held in Singapore’s financial sector.
Monetary Authority of Singapore 2025-10-31
Monetary Authority of Singapore works with Police via AC3N on Prince Holding Group case and will review linked financial institutions
The Monetary Authority of Singapore and the Singapore Police Force are addressing the Prince Holding Group case through the Anti-Money Laundering Case Coordination and Collaboration Network. Led by the Commercial Affairs Department and MAS, the network involves sector supervisors and law enforcement. Financial institutions have filed suspicious transaction reports and implemented risk mitigation measures, including account closures, since 2022.