Singapore classifies digital payment tokens as high risk for anti-money laundering

Singapore's updated national risk assessment on anti-money laundering emphasized significant risks in the anti-money laundering field, particularly in the financial industry, where digital payment tokens (DPT) service providers pose greater vulnerabilities. The 126-page report highlighted new areas of risk not included in the previous report published in 2014, including virtual asset (DPT) service providers, as well as gem and precious metal traders.