Monetary Authority of Singapore issues guide to anti-money laundering and combating terrorist financing

According to the news of the chain, the Monetary Authority of Singapore (MAS) released the latest anti-money laundering (AML) and anti-terrorism (CFT) financing guide this week, which aims to provide guidance for electronic payment services. And counter-terrorism financing (CFT) requirements for digital payment token service providers, including risk assessment, risk mitigation, customer due diligence, agency accounts and wire transfers, record retention, suspicious transaction reports, and internal policies. The Monetary Authority of Singapore (MAS) specifically stated that it was necessary to trace back previous token transactions “as soon as possible” to determine if anything suspicious.

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