Guidelines
Guidelines on Prevention of Money Laundering and Countering the Financing of Terrorism - Direct General Insurance Business, Reinsurance Business, and Direct Life Insurance Business (Accident & Health Policies)
Guidelines on processes and controls to prevent money laundering and countering the financing of terrorism, in relation to general insurance and reinsurance business as well as business related to accident and health policies.
These guidelines apply to all insurers.
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The guidelines are organised into four key areas:
- Management Oversight, Policies and Training;
- Customer Due Diligence and Screening Procedures;
- Record Keeping and Documentation; and
- Assessment and Reporting of Suspicious Transactions.
Amendment Notes
- 30 Jun 2025
- This Cancellation of Notices (30 June 2025) (84.6 KB) cancels Guidelines on Prevention of Money Laundering and Countering the Financing of Terrorism - Direct General Insurance Business, Reinsurance Business, and Direct Life Insurance Business (Accident & Health Policies) dated 13 May 2019 (579.7 KB)
Related to this Item
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NoticesLast Revised Date: 30 June 2025
Notice 314 Prevention of Money Laundering and Countering the Financing of Terrorism – Life Insurers
Requirements for direct life insurers to exercise due diligence and conduct their business with high ethical standards, to guard against money laundering and terrorism financing.
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GuidelinesLast Revised Date: 30 June 2025
Guidelines to MAS Notice 314 Notice on Prevention of Money Laundering and Countering the Financing of Terrorism – Life Insurers
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GuidelinesLast Revised Date: 10 January 2024
Guidelines on Risk Management Practices for Insurance Business - Core Activities
Guidelines on sound practices in carrying out insurance business and principles relating to risk management framework.
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GuidelinesLast Revised Date: 10 January 2024
Guidelines on Risk Management Practices for Insurance Business - Insurance Fraud Risk
Guidelines on risk management practices to mitigate insurance fraud risk.
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FAQsPublished Date: 29 November 2019
FAQ on MAS Guidelines on Prevention of Money Laundering and Countering the Financing of Terrorism - Direct General Insurance Business, Reinsurance Business, and Direct Life Insurance Business (Accident & Health Policies)
Provides clarifications to some frequently asked questions on MAS Guidelines on Prevention of Money Laundering and Countering the Financing of Terrorism - Direct General Insurance Business, Reinsurance Business, and Direct Life Insurance Business (Accident & Health Policies)