Monetary Authority of Singapore (MAS)
The main AML regulator for financial institutions in Singapore, setting and enforcing AML/CTF requirements across the financial sector.
Southeast Asia · Country coverage
AML/CTF Compliance in Singapore
Singapore regulates AML/CTF through the Monetary Authority of Singapore and the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act. See the obligations and how MemberCheck supports them.
Last updated
Screening coverage for Singapore
- Sanctions & PEP screening
- Adverse media checks
- Customer identity verification
- Jurisdiction risk checks
- Ongoing monitoring
Key facts
AML supervisor / FIUMonetary Authority of Singapore (MAS); STRO as the FIU
FATF statusFATF member
Primary legislationCorruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (CDSA)
Overview
AML/CTF compliance in Singapore.
Singapore regulates AML/CTF primarily through the Monetary Authority of Singapore (MAS), the main regulator for financial institutions. Other regulators cover specific sectors: ACRA for accountants and trust or company service providers, the Council for Estate Agents for real estate, and the Casino Regulatory Authority for casinos. Money laundering offences sit in the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (CDSA).
Regulated businesses must conduct customer due diligence on a risk-based basis, identifying and verifying ultimate beneficial owners and understanding expected transaction patterns. They must file Suspicious Transaction Reports with the Suspicious Transaction Reporting Office (STRO), report large cash transactions above SGD 10,000, and keep due diligence and transaction records for at least five years, with substantial penalties for breaches of the CDSA.
MemberCheck helps teams meet these obligations by screening customers and entities against global sanctions, PEP, and adverse-media data, verifying identities, and monitoring risk continuously, with a clear audit trail behind every decision.
Regulation
All solutions →Key laws and regulators.
Sector regulators
ACRA supervises accountants and trust or company service providers, the Council for Estate Agents covers real estate, and the Casino Regulatory Authority covers casinos.
Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (CDSA)
The statute that contains Singapore's money laundering offences and underpins AML obligations, with significant penalties for breaches.
Suspicious Transaction Reporting Office (STRO)
Singapore's financial intelligence unit, which receives Suspicious Transaction Reports and Cash Transaction Reports from regulated businesses.
Obligations
What regulated businesses must do.
- Conduct customer due diligence using a risk-based approach
- Identify and verify ultimate beneficial owners
- File Suspicious Transaction Reports (STRs) with the STRO
- Report large cash transactions above SGD 10,000
- Keep customer due diligence and transaction records for at least five years
1,000+
Global watchlists screened
<1s
Average screening response
24h
Watchlist refresh cycle
195
Countries covered
FAQ
Common questions.
Who supervises AML/CTF in Singapore?
The Monetary Authority of Singapore (MAS) is the main AML regulator for financial institutions. Suspicious Transaction Reports are filed with the Suspicious Transaction Reporting Office (STRO).
What is the main AML law in Singapore?
Money laundering offences are contained in the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (CDSA), which underpins AML obligations for regulated businesses.
Is Singapore a member of FATF?
Yes. Singapore is a member of the Financial Action Task Force and aligns its AML/CTF regime with the FATF standards.
How does MemberCheck support AML compliance in Singapore?
MemberCheck screens customers and entities against global sanctions, PEP, and adverse-media data, verifies identities, and monitors risk continuously, with an audit trail behind every decision.
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