Singapore’s National Strategy for Countering the Financing of Terrorism

In 2022, the Singapore authorities formulated the National Strategy for Countering the Financing of Terrorism (CFT). The CFT strategy is based on findings from the Terrorism Financing National Risk Assessment (“TF NRA”) 2020.

The National CFT Strategy provides a blueprint for managing terrorism financing risks. The strategy covers key 5 points, focused on identifying the TF risk and managing and mitigating these risks with adequate measures. The CFT strategy clarifies Singapore’s zero tolerance towards terrorism financing activities and armed violations.

Here is a visual guide highlighting Singapore’s 5-point CFT strategy to identify and manage terrorism financing risks.

AML Singapore is a leading AML Consultancy firm in Singapore, assisting businesses in Singapore in assessing the overall business risk and customizing the Internal Policies, Procedures, and Controls (IPPC) to effectively mitigate these risks, from anti-money laundering and countering the financing of terrorism risks. We also impart AML/CFT training and assist businesses in implementing the IPPC.