Regulatory Alerts2025-06-30
Added
Guidelines to MAS Notice 1014 on Prevention of Money Laundering and Countering the Financing of Terrorism - Merchant Banks
The Monetary Authority of Singapore issued these guidelines to provide merchant banks with detailed guidance on complying with MAS Notice 1014 regarding anti-money laundering and countering the financing of terrorism. The document mandates that institutions implement a risk-based approach, ensure robust board and senior management oversight, and establish comprehensive internal controls and risk management frameworks. These requirements apply to all locally incorporated merchant banks and branches in Singapore, replacing the previous 2015 version effective from 1 July 2025.
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