Notice SFA 04-N02 to Capital Markets Intermediaries on Prevention of Money Laundering and Countering the Financing of Terrorism
Requirements for capital markets intermediaries on anti-money laundering (AML) and countering the financing of terrorism (CFT).
Financial institutions operating in Singapore are required to put in place robust controls to detect and deter the flow of illicit funds through Singapore's financial system. Such controls include the need for financial institutions to identify and know their customers (including beneficial owners), to conduct regular account reviews, and to monitor and report any suspicious transaction.
The AML/CFT requirements for capital markets intermediaries can be found in this notice, which includes the following:
- Risk assessment and risk mitigation.
- Customer due diligence.
- Reliance on third parties.
- Correspondent accounts.
- Record keeping.
- Suspicious transaction reporting.
- Internal policies, compliance, audit and training.
Amendment Notes
- 30 Nov 2015
- Notice SFA04-N02 (Amendment) 2015 (34.3 KB) takes effect.
- 24 May 2015
- Notice SFA04-N02 dated 24 April 2015 (263.8 KB) takes effect and Notice SFA 04-N02 dated 2 July 2007 is cancelled.
- 01 Jul 2014
- Notice SFA04-N02 (Amendment) 2014 (74.1 KB) takes effect.
- 23 Jan 2013
- Notice SFA04-N02 (Amendment) 2013 (195.7 KB) takes effect.
- 07 Aug 2012
- Notice SFA04-N02 (Amendment) 2012 (102.3 KB) takes effect.
- 02 Dec 2009
- Notice SFA04-N02 (Amendment) 2009 (88.7 KB) dated 3 July 2009 takes effect.
- 02 Jul 2007
- Notice SFA04-N02 takes effect.
- 01 Mar 2007
- Notice SFA04-N02 (Amendment) 2007 (43.5 KB) dated 28 February 2007 takes effect.
Related to this Notice
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CircularsPublished Date: 08 October 2018
CMI 02/2015 Circular to Broker-Dealers on Enhancing Anti-Money Laundering & Countering the Financing of Terrorism Measures and Business Conduct
Circular to Broker-Dealers on Enhancing Anti-Money Laundering & Countering the Financing of Terrorism Measures and Business Conduct
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NoticesLast Revised Date: 05 October 2018
Notice CMG-N01 on Reporting of Suspicious Activities and Incidents of Fraud
When to report suspicious activities and incidents of fraud.
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GuidelinesLast Revised Date: 30 November 2015
Guidelines to Notice SFA 04-N02 on Prevention of Money Laundering and Countering the Financing of Terrorism - Capital Markets Intermediaries
Guidelines for capital markets intermediaries on Notice SFA04-N02 on the prevention of money laundering and countering the financing of terrorism.
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CircularsPublished Date: 28 October 2015
CMI 04/2015 Circular to Corporate Finance Firms on Enhancing Anti-Money Laundering & Countering the Financing of Terrorism Measures and Business Conduct
Circular to Corporate Finance Firms on Enhancing Anti-Money Laundering & Countering the Financing of Terrorism Measures and Business Conduct
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CircularsPublished Date: 28 October 2015
CMI 03/2015 Circular to Fund Management Companies on Enhancing Anti-Money Laundering & Countering the Financing of Terrorism Measures and Business Conduct
Circular to Fund Management Companies on Enhancing Anti-Money Laundering & Countering the Financing of Terrorism Measures and Business Conduct