The Monetary Authority of Singapore (“MAS”) encourages all Financial Institutions to attend at least one refresher training on topics of AML / CFT and keep abreast with latest regulatory developments.

A training certificate of 2 hours for CPD will be given on passing the Assessment with the pass rate being 80%. The training to be conducted via Webinar – the dial-in details and the link to the Assessment will be sent nearer the date. It will cover the rules & regulations including latest developments and best practices using real life examples.

Course Objectives for AML/CFT Training and Regulatory Updates

On completing this course, learners would be able to:

  • Understand money laundering / terrorism financing risks faced by companies
  • Understand general international requirements
  • Understand minimum MAS requirements for regulated companies pertaining to AML/CFT
  • General understanding of conducting due diligence checks , AML screenings and risk assessments for customers
  • Understand suspicious transactions reporting requirements
  • Understand significant regulatory updates in 2020

Who should attend :

All officers and employees of regulated Financial Institutions (FI) in Singapore such as:

  • Board of directors and senior management
  • Compliance officers and managers
  • Personnel involved in customer onboarding, investor relations and customer facing including client services management teams
  • All other employees

Course Outline for AML/CFT Training and Regulatory Updates

In general the course will cover the following topics:

  • Money Laundering Process and Techniques
  • Singapore Laws and International Standards
  • Stages of Money Laundering
  • Key overview of regulatory provisions including offences and penalties
  • Enterprise-wide risk Assessment
  • Customer Due Diligence
  • AML screening requirements
  • On-going monitoring
  • Suspicious Transactions Reporting
  • Record-Keeping
  • Training
  • Updates on major regulatory changes introduced in 2020 such as:

– Opt-in Opt-out requirements

– Best execution procedures

– Individual accountability and conduct

– Strengthening oversight over AML/CFT outsourcing arrangements

– Guide to Digital Token Offerings

About Argus Global

Argus Global is a regulatory compliance consulting firm and almost all of our clients are either regulated by Monetary Authority of Singapore (“MAS”) or are desirous to be regulated by them. We take care of the entire life-cycle of regulated entities :

  • Setup the appropriate corporate structure in Singapore and take care of the corporate statutory compliance
  • Assist in Registration / Licensing Application with MAS
  • Help Build/Amend/Review Compliance Policy and procedures as befitting the regulated status of the entity
  • Take care of ongoing compliance for regulated entity from a MAS perspective. This empowers you to concentrate on your core business while we take care of compliance for you
  • Conduct Internal Audits specifically tailored from a compliance perspective
  • Conduct Compliance Training

Please drop us an email at info@argusglobal.co for any queries/clarifications

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