The Monetary Authority of Singapore (MAS) issued, on 8 April, a
consultation paper in respect of proposed amendments to its
anti-money laundering and countering the financing of terrorism
(AML/CFT) Notices and Guidelines applicable to financial
institutions (FIs) and variable capital companies (VCCs). They are
due to take effect from 30 June.
In scope FIs include banks, merchant banks, finance companies,
payment service providers, direct life insurers, capital markets
intermediaries, financial advisers, the central depository,
approved exchanges and recognised market operators, approved
trustees, trust companies, non-bank credit and charge card
licensees and digital token service providers.
