Since the regulatory framework for CSPs was enhanced in 2015, there were some RFAs that were found to have committed significant breaches of AML/CFT regulations.
As a deterrence and to uphold market transparency, ACRA will be publishing the names of RFAs that have their registrations suspended or cancelled due to severe breaches of AML/CFT regulations.
This will apply to RFAs that have been subjected to ACRA's inspections from 1 June 2018.
These measures are vital to upholding the standards of the industry and ensuring that RFAs discharge their professional duties responsibly.
The information will appear in the Filing Agent/Qualified Individual (FA/QI) Enquiry search results on BizFile+ portal and the ACRA website.
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