Regulatory Alerts2025-06-30
Added
PSN10 Prevention of Money Laundering and Countering the Financing of Terrorism - Exempt Payment Service Providers
The Monetary Authority of Singapore issues this notice to specify how anti-money laundering and countering the financing of terrorism requirements apply to exempt payment service providers. It details the regulatory obligations for entities providing account issuance, domestic money transfer, and e-money issuance services under the Payment Services Act 2019. This document, effective from 1 July 2025, cancels the previous version dated 28 June 2021 to update the regulatory framework for these specific payment products.
Notices
Last Revised Date: 30 June 2025
PSN10 Prevention of Money Laundering and Countering the Financing of Terrorism - Exempt Payment Service Providers
Notice to exempt payment service providers on the application of anti-money laundering (AML) and countering the financing of terrorism (CFT) requirements to the provision of payment services for specified products
View Notice
PSN10 Prevention of Money Laundering and Countering the Financing of Terrorism - Exempt Payment Service Providers
(114.2 KB)
This Notice sets out the application of AML/CFT Notices to persons exempt under section 13(1) of the Payment Services Act 2019 (Act 2 of 2019) in relation to the provision of payment services for a specified product that involves account issuance, domestic money transfer and e-money issuance services.
30 June 2025 This MAS Notice PSN10 (Cancellation) Notice dated 30 June 2025 (84.6 KB) cancels MAS Notice PSN10 on “Prevention of Money Laundering and Countering the Financing of Terrorism – Exempt Payment Service Providers” dated 28 June 2021
with effect from 1 July 2025.
28 Jun 2021
Notice PSN10 (Amendment) 2021 (339.2 KB) takes effect.
The Payment Services (PS) Act is a forward looking and flexible framework for the regulation of payment systems and payment service providers in Singapore. It provides for regulatory certainty and consumer safeguards, while encouraging innovation and growth of payment services and FinTech. Parliament passed the PS Act...