Requirements for merchant banks on anti-money laundering (AML) and countering the financing of terrorism (CFT).
Guidelines to MAS Notice 1014 on Prevention of Money Laundering and Countering the Financing of Terrorism - Merchant Banks
These guidelines apply to all merchant banks incorporated in Singapore. They provide guidance on the requirements in MAS Notice 1014 on Prevention of Money Laundering and Countering the Financing of Terrorism – Merchant Banks. These guidelines should be read in conjunction with the notice.
The guidelines cover:
- Assessing and applying a risk-based approach.
- Board and senior management oversight.
- Internal controls and risk management.