ISCA, COC launches new anti-money laundering initiatives for charities

The two will be subsidising services to enhance anti-AML/CFT capabilities.

The Institute of Singapore Chartered Accountants (ISCA) partnered with the Office of the Commissioner of Charities (COC) to boost the charities sector’s resilience through new anti-money laundering (AML) and countering the financing of terrorism (CFT) initiatives.

Under the partnership, ISCA and the Office of COC will be subsidising services for charities to enhance their anti-AMLL/CFT capabilities.

This will be led by a Charities AML/CFT Services Panel, with accounting firms Forbis Accounting, InCorp Global and Unity Assurance.

The two, along with the National Council of Social Service, are also spearheading digital transformation through its Community Accounting Programme, which was launched in October 2023.

The programme aims to accelerate the digital transformation of charities and targets to support more than 50 charities and non-profit organisations by end-2024.

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Institute of Singapore Chartered Accountants

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