Financial Services and Markets (Amendment) Bill

The Financial Services and Markets (Amendment) Bill aims to enhance anti-money laundering and anti-terrorism financing measures. The bill allows for the sharing and publication of risk information among prescribed financial institutions, the Monetary Authority of Singapore (MAS), and relevant authorities like the Suspicious Transaction Reporting Office (STRO). It establishes an electronic information sharing system to facilitate these processes. The bill includes provisions for the protection of disclosed information and penalties for false disclosures, ensuring compliance with relevant regulations. Amendments are also made to related acts, including the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act.