Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Bill
- The bill seeks to regulate businesses and intermediaries dealing in precious stones and metals to prevent money laundering and terrorism financing.
- It introduces licensing and compliance requirements for persons engaged in regulated dealing, aligning with international standards.
- The bill also makes consequential amendments to other existing laws to ensure coherence and effectiveness in enforcement.
- It was presented by the Senior Minister of State for Law on behalf of the Minister for Law and read for the first time, with the second reading scheduled for the next sitting.