SINGAPORE TO DO AWAY WITH S$1000 NOTES FROM 2021 TO PREVENT MONETARY OFFENSES

HIGHLIGHTS

• Monetary Authority of Singapore (MAS) issued a declaration that it will stop the use of S$1,000 notes from next year to control finance-related offenses such as money laundering and terrorism

From this point until December, a restricted amount of S$1,000 notes will be made accessible every month.

This is a pre-emptive measure to moderate the higher illegal money launderi....