Guidelines for Financial Institutions to Safeguard the Integrity of Singapore's Financial System
These guidelines apply to all financial institutions (FIs) in Singapore. They reiterate Singapore's commitment to safeguarding the integrity of its financial system.
FIs should guard against the use of their operations to facilitate any illegitimate activity. If they have reason to suspect that any asset transfers into Singapore are illegitimate, they should file Suspicious Transaction Reports, and where appropriate, discontinue the business relationship.
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.
Guidelines for direct life insurers on the requirements in MAS Notice 314 on Prevention of Money Laundering and Countering the Financing of Terrorism, in relation to their life policies.
Requirements for insurers to report suspicious activities and incidents of fraud.