Singapore legislation

Regulation 11

of Accountants (Prevention of Money Laundering, Terrorism Financing and Proliferation Financing) Rules 2023

Regulation 11

Ongoing monitoring

Amended byS 201/2026 wef 06/05/2026

Subregulation 1

An accounting entity or individual practitioner of the accounting entity must conduct ongoing monitoring of every business relationship with a client.

Subregulation 2

Amended byS 201/2026 wef 06/05/2026

For purposes of paragraph (1), the accounting entity or individual practitioner must —

(a)

determine the extent of ongoing monitoring of a business relationship on a risk‑sensitive basis, depending on the type of client, business relationship, services or transaction; and

(b)

be able to demonstrate to the Registrar that the extent of the ongoing monitoring is appropriate in view of the risks of money laundering, the financing of terrorism and proliferation financing.

Read in full context — Accountants (Prevention of Money Laundering, Terrorism Financing and Proliferation Financing) Rules 2023 →