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Singapore legislation

Section 20

of Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019

Section 20

Additional measures relating to targeted financial sanctions, etc.

(1)

A regulated dealer must perform —

(a)

any prescribed measures relating to targeted financial sanctions against terrorism; and

(b)

any additional prescribed measures which are necessary or expedient to give effect to any relevant FATF Recommendation.

(2)

A regulated dealer who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000.

Read in full context — Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019 →