MAS has issued new guidance on mitigating the risks of terrorist financing
Monday, 29 May 2023
The Monetary Authority of Singapore (MAS) announced fresh recommendations for financial institutions (FIs) on assessing their counter-terrorism funding (CFT) procedures on May 26, 2023. The advise follows the regulator's industry-wide study, which looked at CFT-related controls and FIs' understanding of terrorist funding.
The advise summarises MAS' significant observations and outlines the supervisory expectations against which FIs should evaluate their controls.
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