External Publications
 Published Date: 11 July 2023

Industry Perspectives on Best Practices – Management of Money Laundering, Terrorism Financing and Sanctions Risks from Customer Relationships with a Nexus to Digital Assets

This paper is produced by the ACIP working group on Digital Assets Risk Management. It aims to provide financial institutions (FIs) with a foundational framework to advance understanding and management of money laundering (ML), terrorism financing (TF) and sanctions risks arising from customer relationships with nexus to digital assets in the Singapore context. It also highlights “red flags” and best practices that FIs could adopt to identify, manage and mitigate the associated ML, TF and sanctions risks.
Applies to: Credit/Charge Card Issuer , Finance Company , Full Bank (Branch) , Full Bank (Locally Incorporated) , Merchant Bank (Branch) , Merchant Bank (Locally Incorporated) , Wholesale Bank (Branch) , Wholesale Bank (Locally Incorporated) , Financial Holding Company (Banking) , Licensed Trust Company , Dealing in Capital Markets Products , Licensed Fund Management Company , Providing Custodial Services , Registered Fund Management Company , Major Payment Institution , Standard Payment Institution
View Document Industry Perspectives on Best Practices – Management of Money Laundering, Terrorism Financing and Sanctions Risks from Customer Relationships with a Nexus to Digital Assets