Regulatory Alerts2025-06-30
Added
Notice SFA 03AA-N01 to the Depository on Prevention of Money Laundering and Countering the Financing of Terrorism
The Monetary Authority of Singapore issued Notice SFA 03AA-N01 to impose anti-money laundering and countering the financing of terrorism requirements on the Central Securities Depository. The notice mandates robust controls including risk assessment, customer due diligence, record keeping, and the reporting of suspicious transactions to deter illicit fund flows. This regulatory framework supersedes previous versions effective from 1 July 2025 to ensure financial institutions maintain rigorous compliance standards.
Notices
Last Revised Date: 30 June 2025
Notice SFA 03AA-N01 to the Depository on Prevention of Money Laundering and Countering the Financing of Terrorism
Requirements for the Central Depository System on anti-money laundering (AML) and countering the financing of terrorism (CFT).
AML/CFT
Issued pursuant to:
Monetary Authority of Singapore Act (Cap. 186) section 27B
Applies to:
Central Securities Depository
View Notice
Notice SFA 03AA-N01 to the Depository on Prevention of Money Laundering and Countering the Financing of Terrorism
(259.7 KB)
Financial institutions operating in Singapore are required to put in place robust controls to detect and deter the flow of illicit funds through Singapore's financial system. Such controls include the need for financial institutions to identify and know their customers (including beneficial owners), to conduct regular account reviews, and to monitor and report any suspicious transaction.
The AML/CFT requirements for the Central Depository System can be found in this notice, which includes the following:
Risk assessment and risk mitigation.
Customer due diligence.
Reliance on third parties.
Correspondent accounts.
Record keeping.
Reporting suspicious transactions.
Internal policies, compliance, audit and training.
30 June 2025
(232.8 KB)
This MAS Notice SFA03AA-N01 (Cancellation) Notice dated 30 June 2025 (84.6 KB) cancels MAS Notice SFA03AA-N01 to the Depository on Prevention of Money Laundering and Countering the Financing of Terrorism
dated 3 January 2016 (last revised on 1 March 2022) with effect from 1 July 2025.
01 Mar 2022
Notice SFA03AA-N01 (Amendment) 202 2 (232.8 KB) takes effect.
01 Jul 2021
Notice SFA03AA-N01 (Amendment) 2021
(399.3 KB) takes effect. Notice SFA03AA-N01 last revised on 28 June 2021
(396 KB) .
03 Jan 2016 MAS Notice SFA03AA-N01 takes effect.
Guidelines for the Depository on Notice SFA 03AA-N01 on the prevention of money laundering and countering the financing of terrorism.