This information paper follows from a series of anti-money laundering and countering the financing of terrorism (AML/CFT) thematic inspections and engagements conducted by MAS of selected external asset managers. It sets out MAS’ supervisory expectations for effective AML/CFT frameworks and controls and includes good practices and illustrative examples observed.
Published Date: 28 April 2022
Strengthening AML/CFT Name Screening Practices
MAS conducted thematic inspections on the AML/CFT name screening frameworks and processes of selected financial institutions in 2021. The paper sets out MAS’ supervisory expectations and good practices, areas for improvement, and illustrative examples observed from the inspections. Financial institutions should benchmark themselves against the supervisory expectations and good practices in the paper.