Regulation 14

in respect of all complex or unusually large transactions, or unusual patterns of transactions that have no apparent or visible economic or lawful purpose;

when the accounting entity proposes to have, or has established, a business relationship with a client from or in a country or territory outside Singapore known to have inadequate measures for the prevention of money laundering, the financing of terrorism or proliferation financing (as determined by the accounting entity or individual practitioner, or as notified to accounting entities and individual practitioners generally by the Registrar);

in respect of any other categories of clients or any other transactions which the accounting entity or individual practitioner considers may present a high risk of money laundering, the financing of terrorism or proliferation financing; and

in respect of a business relationship with a client, where the client is from or in a country or territory for which the FATF has called for countermeasures (including enhanced CDD measures) to be performed, as may be notified to accounting entities and individual practitioners generally by the Registrar.

ensuring that the client’s identity is established by additional documents, data or information;

implementing supplementary measures to verify or certify the documents supplied, or requiring confirmatory certification by a Singapore financial institution;

ensuring that the first payment is carried out through an account opened in the client’s name with a Singapore financial institution.