On 31 October 2025, the Monetary Authority of Singapore (MAS) announced that 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 ongoing case involving Prince Holding Group. The collaboration underscores Singapore’s commitment to safeguarding its financial system from illicit activities by deepening coordination between financial regulators, enforcement agencies, and financial institutions (FIs). MAS confirmed that suspicious transaction reports had been filed early, and several FIs had proactively taken risk mitigation measures, including closing suspicious accounts, thereby preventing larger sums from remaining within the financial system.
Regulatory Coordination and Supervisory Action
“MAS will continue to work closely with the Police, and will also conduct supervisory reviews with FIs with a nexus to the case.” MAS affirmed that coordinated enforcement and supervisory oversight remain central to its anti-money laundering (AML) framework. The authority emphasised that early detection by reporting institutions demonstrates the effectiveness of Singapore’s financial surveillance system and the value of integrated cross-agency collaboration under the AC3N framework.
Public–Private Partnership and International Cooperation
Ms Loo Siew Yee, Assistant Managing Director (Policy, Payments & Financial Crime), MAS, said: “Combatting financial crime requires global effort as illicit fund flows are often cross-border in nature. In addition to international cooperation, close public and private partnership is crucial. MAS works closely with the Police, our international counterparts and our FIs to protect our financial system against illicit activities, including staying vigilant to money laundering risks.” MAS reiterated its stance that cross-border cooperation and intelligence-sharing with foreign regulators are vital to mitigating risks posed by global money-laundering networks.
The AC3N, established as a collaborative framework between MAS and law enforcement agencies, enhances the coordination of complex AML investigations and strengthens Singapore’s capability to trace and disrupt illicit financial flows. The ongoing case involving Prince Holding Group marks another instance where early detection and inter-agency cooperation prevented systemic exposure to potential financial crime.
