Digital payment token service providers are required to put in place robust controls to detect and deter the flow of illicit funds through Singapore's financial system.

The AML/CFT requirements for digital payment token service providers can be found in this notice, which include the following:

• Risk assessment and risk mitigation.
• Customer due diligence.
• Reliance on third parties.
• Correspondent accounts and wire transfers.
• Record keeping.
• Suspicious transaction reporting.
• Internal policies, compliance, audit and training.