Regulatory Alerts2025-06-30
Added
MAS Notice PSN01 Prevention of Money Laundering and Countering the Financing of Terrorism – Specified Payment Services
The Monetary Authority of Singapore issued Notice PSN01 to mandate anti-money laundering and countering the financing of terrorism controls for payment service providers excluding digital payment token service providers. The notice requires these entities to implement robust measures including customer due diligence, risk assessments, suspicious transaction reporting, and internal compliance frameworks to detect illicit fund flows. Recent amendments effective July 2025 update these regulatory requirements under the Payment Services Act framework.