The objective of the course is to provide an understanding of the responsibilities of CMI and FA to conduct customer due diligence on customers as require by legislations in relation to the prevention of money laundering and countering the financing of terrorism.

 

The topics covered will be the CDD guidelines according to the MAS Notice SFA04-N02 and MAS Notice FAA - N06

  • Anonymous account (CMI)
  • Fictitious account (CMI)
  • Customers who are portfolio manager (FA)
  • When CDD is to be performed
  • Identification of customer
  • Verification of identity of customer
  • Identification and verification of identity of natural person appointed to act on a customer’s behalf
  • Identification and verification of identity of beneficial owner
  • Identification of beneficiary
  • Information on the purpose and intended nature of business relations
  • Ongoing monitoring
  • CDD Measures for Non-Face-to-Face Business Relations
  • Reliance by Acquiring CMI on Measures Already Performed
  • Measures for Non-Account Holder
  • Timing for Verification
  • Where Measures are Not Completed
  • Existing Customers
  • Screening
  • Simplified Customer Due Diligence
  • Enhanced Customer Due Diligence
    1. Politically Exposed Persons
    2. Other Higher Risk Categories
  • Reliance on Third Parties



Instructor(s)

Mr. Daniel Chee - FCA Singapore, FCPA Australia

Daniel has more than 15 years of professional experience in the financial sector and more than 5 years of senior management experience in multinational corporations. His academic experience includes eight years with the business school of the National University of Singapore as an adjunct associate professor and he is currently an adjunct professor with the Singapore University of Social Sciences. He is a regular trainer for the continuing professional education programmes run by the Institute of Singapore Chartered Accountants.

Course curriculum

  • 1
    Course Synopsis
    • Synopsis
  • 2
    Duty to Report Suspicious Transactions
    • Introduction (1 min)
    • Content (10 min)
    • Summary Page (5 min)
    • Assessment (8 min)
  • 3
    CDD for CMI and FA
    • Introduction (1 min)
    • Content (20 min)
    • Summary Page (5 min)
    • Assessment (18 min)
  • 4
    Results of CDD
    • Introduction (1 min)
    • Content (5 min)
    • Summary Page (5 min)
    • Assessment (6 min)
  • 5
    High risk/PEP
    • Introduction (1 min)
    • Content (15 min)
    • Summary Page (5 min)
    • Assessment (6 min)
  • 6
    Record Keeping
    • Introduction (1 min)
    • Content (5 min)
    • Summary Page (5 min)
    • Assessment (4 min)
  • 7
    Others
    • Introduction (1 min)
    • Content (20 min)
    • Summary Page (5 min)
    • Assessment (6 min)
  • 8
    Cases
    • Introduction (1 min)
    • Content (15 min)
    • Summary Page (5 min)

Fee: Contact Us (No GST)

90 days' unrestricted use