Regulatory Alerts2025-06-30
Added
Guidelines to MAS Notice 314 on Prevention of Money Laundering and Countering the Financing of Terrorism – Life Insurers
The Monetary Authority of Singapore issued these guidelines to direct life insurers to implement requirements under MAS Notice 314 for preventing money laundering and countering the financing of terrorism. The document mandates that insurers exercise due diligence, maintain high ethical standards, and establish robust processes and controls to safeguard their life policy business. It serves as the current regulatory framework effective from 30 June 2025, replacing previous versions to ensure compliance with Singapore's financial integrity standards.