Regulatory Alerts2025-06-30
Added
Notice SFA02-N05 to Approved Exchanges and Recognised Market Operators on Prevention of Money Laundering and Countering the Financing of Terrorism
The Monetary Authority of Singapore issued Notice SFA02-N05 to impose anti-money laundering and countering the financing of terrorism requirements on approved exchanges and recognised market operators. The notice mandates that these financial institutions implement robust controls including risk assessment, customer due diligence, record keeping, and suspicious transaction reporting. The latest amendment dated 30 June 2025 takes effect on 1 July 2025, following a public consultation process that concluded in April 2024.
Notices
Last Revised Date: 30 June 2025
Notice SFA02-N05 to Approved Exchanges and Recognised Market Operators on Prevention of Money Laundering and Countering the Financing of Terrorism
Requirements for approved exchanges and recognised market operators on anti-money laundering (AML) and countering the financing of terrorism (CFT).
Anti-Money Laundering
AML/CFT
Applies to:
Capital Markets Services
,
Markets and Exchanges
View Notice
Notice SFA02-N05 to Approved Exchanges and Recognised Market Operators on Prevention of Money Laundering and Countering the Financing of Terrorism
(328.1 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 approved exchanges and recognised market operators can be found in this notice, which includes the following:
Risk assessment and risk mitigation
Customer due diligence
Reliance on third parties
Record keeping
Suspicious transaction reporting
Internal policies, compliance, audit and training
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30 June 2025
(328.1 KB) MAS Notice SFA02-N05 (Amendment) dated 30 June 2025 takes effect on 1 July 2025.
13 January 2025
Notice SFA02N05 to Approved Exchanges and Recognised Market Operators on Prevention of Money Launder (293.6 KB) takes effect.
Guidelines for approved exchanges and recognised market operators on Notice SFA02-N05 on the prevention of money laundering and countering the financing of terrorism.
This consultation paper seeks views on MAS’ proposals to issue an AML/CFT Notice for organised market operators formed or incorporated in Singapore in the conduct of their operations and business activities .
Consultation number:
P002-2024
Start date:
28 March 2024
Closing date:
29 April 2024
MAS response date:
13 January 2025