CATEGORY: NEWS AND ANNOUNCEMENTS


1  As a member of the United Nations (UN), Singapore gives effect to the targeted financial sanctions under the UN Security Council Resolutions. 

2  All persons in Singapore have to comply with the UN Regulations, which are made pursuant to the UN Act and which implement the financial sanctions1. For example, the UN Regulations prohibit persons in Singapore from dealing with the UN lists of designated individuals and entities. Please refer to the Monetary Authority of Singapore’ website on targeted financial sanctions for more information on your obligations under the UN Regulations. 

3  To facilitate compliance, please subscribe to the AML/ CFT and Targeted Financial Sanctions section of the MAS website. Failure to do so will affect the compliance review that you may be selected to undergo. Please input the name of your firm upon subscription. Subscription will alert you to changes to the lists of UN designated individuals and entities, and help you stay abreast of other relevant announcements, such as high risk jurisdictions identified by the Financial Action Task Force.2 Please refer to the following screen shots for subscribing to the MAS website. 

1Except for financial institutions regulated by the Monetary Authority of Singapore (MAS), which have to comply with a corresponding set of MAS Regulations.

2The FATF sets the international standard on combating money laundering and the financing of terrorism & proliferation.



2017/10/13
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