Regulatory Alerts2025-06-30
Added
MAS Notice 626A Prevention of Money Laundering and Countering the Financing of Terrorism – Credit Card or Charge Card Licensees
The Monetary Authority of Singapore issued Notice 626A to impose anti-money laundering and countering the financing of terrorism requirements on credit card and charge card licensees. The notice mandates robust controls including risk assessment, customer due diligence, reliance on third parties, record keeping, and reporting of suspicious transactions. This current notice cancels the previous version effective 1 July 2025, superseding amendments from 2015, 2021, and 2022.
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