Regulatory Alerts2025-06-30
Added · Updated
Guidelines to Notice SFA 13-N01 on Prevention of Money Laundering and Countering the Financing of Terrorism - Approved Trustees
These guidelines provide guidance to approved trustees on the requirements of MAS Notice SFA13-N01 regarding the prevention of money laundering and countering the financing of terrorism. The document outlines obligations for conducting enterprise-wide ML/TF risk assessments, implementing a risk-based approach, and establishing internal controls through a three lines of defence framework. It specifies that approved trustees must review their risk assessments at least once every two years or upon material trigger events, and maintain documentation available to the Monetary Authority of Singapore upon request.