Singapore legislation
Section 44B
Section 44B
Customer due diligence measures
(1)
A licensed estate agent must perform the prescribed customer due diligence measures in any of the following circumstances:
when doing any estate agency work for a client;
where the licensed estate agent has reason to suspect money laundering or terrorism financing;
where the licensed estate agent has reason to doubt the veracity or adequacy of information obtained from earlier customer due diligence measures;
under circumstances prescribed for the purposes of this section.
(2)
A registered salesperson must perform the prescribed customer due diligence measures in any of the following circumstances:
when doing any estate agency work for a client;
where the registered salesperson has reason to suspect money laundering or terrorism financing;
where the registered salesperson has reason to doubt the veracity or adequacy of information obtained from earlier customer due diligence measures;
under circumstances prescribed for the purposes of this section.