This course provides SME owners with a foundational understanding of Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) within Singapore's regulatory framework. Participants will learn to identify key risks and common typologies associated with money laundering and terrorism financing that may affect their businesses. The course also covers practical measures to implement effective AML/CFT controls, helping to safeguard operations, maintain regulatory compliance, and build trust with stakeholders. By the end of the session, participants will be equipped to meet Singapore’s legal obligations and reduce potential legal and financial risks.

At the end of the course, participantswill be able to :

• UnderstandAML/CFT principles and practices.
• Identify risks and potential mitigating solutions
• Understand Singapore's AML/CFT regulations.

Programme Outline

Introduction to AML/CFT

• Definition and importance of AML/CFT.
• Overview of Singapore's AML/CFT policy objectives.
• Key stakeholders: MAS, ACRA, and other regulatory bodies.

Legal and Regulatory Framework in Singapore

• Key legislation: Terrorism (Suppression of Financing) Act, Corruption, Drug Trafficking and Other Serious Crimes Act.
• FATF Recommendations and their application in Singapore.
• Obligations for businesses under AML/CFT regulations.

Risk Assessment and Mitigation

• Identifying money laundering and terrorism financing risks.
• Risk-based approach to AML/CFT compliance.
• Group Discussion on a SME case study scenario

Implementing AML/CFT Measures

• Customer Due Diligence (CDD) and Know Your Customer (KYC) processes.
• Record-keeping and reporting obligations.
• Role of technology in AML/CFT compliance (e.g., transaction monitoring systems).

Building Stakeholder Trust and Ethical Governance

• Importance of transparency and accountability.
• Communicating AML/CFT compliance efforts to stakeholders.
• Ethical considerations in AML/CFT practices.

Training Methodology*

Closing Date for Registration*

Intended For

For SME Business Owners/Entrepreneurs and SME Professionals.

Programme Facilitator(s)