We are licensed by MAS and are governed by its legislations, notices and guidelines, especially MAS Notice 3001 (which covers anti money laundering and counter terrorist financing activities) implemented by the governing body.
An important aspect of our compliance program is the establishment of true identity through our Customer Due Diligence (CDD) and Know Your Customer (KYC) measures. As part of this program, we require customers to produce documentary proof of their identity and/or proof of the source of funds.
We adopt all AML/CFT measures diligently and reserve the right to reject a business or to do an enhanced due diligence by asking for further information or documents.
We also have an appointed Compliance Officer who sees to it that all AML/CFT measures are appropriately complied. Our staffs are all highly trained in the areas of AML and CFT, having undergone a robust internal training program developed by experienced professionals, as well as external programs developed by notable AML/CFT experts in the industry.
In view of the said measures, face-to-face verification is compulsory for first-time customers.
Source of funds requirements