VZCZCXYZ0000
RR RUEHWEB

DE RUEHGP #2749 2422325
ZNR UUUUU ZZH
R 302325Z AUG 06
FM AMEMBASSY SINGAPORE
TO RUEHC/SECSTATE WASHDC 1036
INFO RUCPDOC/USDOC WASHDC
RUEATRS/DEPT OF TREASURY WASHDC
RUEAWJA/DEPT OF JUSTICE WASHDC

UNCLAS SINGAPORE 002749 
 
SIPDIS 
 
SIPDIS 
 
E.O. 12958: N/A 
TAGS: EFIN ETTC KTFN ECON EINV ETRD SN
SUBJECT: COMMENTS SOUGHT FOR AML/CFT GUIDELINES 
 
REFS: HOROWITZ-DEGARABEDIAN EMAILS 
 
¶1.  The Monetary Authority of Singapore (MAS) recently 
released for public comment draft guidelines for banks 
and other financial institutions concerning anti-money 
laundering and countering the financing of terrorism 
(AML/CFT).  These guidelines supplement amended 
regulations (or "Notices") released for public comment 
earlier this month (reftels), which are designed to 
bring Singapore's AML/CFT regulations better into 
alignment with Financial Action Task Force 
recommendations. 
 
¶2.  The draft guidelines provide more detailed customer 
due diligence procedures, including for politically 
exposed persons, and reporting requirements for cross- 
border wire transfers and suspicious transactions.  In 
addition to banks, the regulations and guidelines apply 
to moneylenders, insurance companies, finance 
companies, merchant banks, financial advisers, capital 
market institutions, approved trustees, and trust 
companies. 
 
¶3.  The closing date for submission of comments on the draft 
guidelines is September 27, 2006.  The comment period for 
draft regulations ends September 4.  Guidelines can be 
viewed at: 
 
 
 
Comments may be submitted as follows: 
 
email: aml@mas.gov.sg 
 
 mail: 
 
 AML/CFT Policy Unit 
 External Department 
 Monetary Authority of Singapore 
 10 Shenton Way 
 MAS Building 
 Singapore 079117 
 
HERBOLD