Regulatory Alerts2025-06-30
Added
MAS Notice PSN01AA on AML/CFT Requirements for Exempted Account Issuance Service Providers
The Monetary Authority of Singapore issued Notice PSN01AA to impose anti-money laundering and countering the financing of terrorism requirements on persons providing account issuance services exempted under the Payment Services (Exemption for Specified Period) Regulations 2019. This transitional arrangement substantially applied the requirements of PSOA-N02 to facilitate the transition of existing stored value facility holders and took effect on 11 February 2021. The notice was subsequently cancelled with effect from 1 July 2025 by a later MAS Notice dated 30 June 2025.