Singapore: Implemented Online Criminal Harms Act 2023 (Amendment of First Schedule) (No. 2) Order 2024 related to money laundering and terrorism financing

On 2 January 2025, the Online Criminal Harms Act 2023 (Amendment of First Schedule) (No. 2) Order 2024 related to money laundering and terrorism financing comes into effect. The Act empowers the government to issue directions to online service providers to limit exposure to criminal activities, including scams and malicious cyber-activities, and limit exposure to non-compliant platforms. This amendment enables authorities to address offences related to money laundering and terrorism financing, bringing the Act in line with recent changes to the Moneylenders Act 2008.