The updates of The Monetary Authority of Singapore on 2 June 2014
Published time: 2014-06-12
The Monetary Authority of Singapore has on 2 June 2014 issued a Consultation Paper which sets out the proposed amendments to the Notices on Prevention of Money Laundering and Countering the Financing of Terrorism (“AML/CFT”).
The proposed amendments seek to clarify financial institutions’ obligations under the AML/CFT requirements in relation to the Personal Data Protection Act.