Anti-Money Laundering & Counter Terrorism Financing and Sanctions

01 January 2020 00:00 by Lionel Tay, Nigel Pereira

Organisations offering designated services are faced with a multitude of money laundering and terrorism financing risks. The Singapore Anti-Money Laundering and Counter Terrorism Financing module not only outlines an organisation's obligations under this area of law, it covers such Acts as the 'Monetary Authority of Singapore Act', 'Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act', 'Terrorism (Suppression of Financing) Act' and over 71 other compliance sources. This module offers practical guidance on the identification, mitigation and the management of their money laundering and terrorism financing risks.

Module Scope:

Core Obligations

  • Overview
  • Counter-terrorism financing
  • AML onboarding and transaction monitoring
  • MAS Notices and Guidelines
  • The anti-money laundering regime
  • Compliance requirements
  • International regulation and compliance
  • MAS Enforcement
  • Customer identification processes

Legal Landscape

  • Monetary Authority of Singapore Act 1970 (Cap 186)
  • Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 (Cap 65A)
  • Terrorism (Suppression of Financing) Act 2002 (Cap 325)
  • Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019
  • Securities and Futures Act
  • and 71 other compliance sources

Regulators

  • Monetary Authority of Singapore

Webinars