Singapore legislation

Section 3

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

Section 3

Purpose of Act

The purpose of this Act is to combat money laundering and terrorism financing in the precious stones industry and precious metals industry by —

(a)

regulating the persons who carry on a business of regulated dealing or business as intermediaries for regulated dealing; and (b)prescribing measures to prevent regulated dealing from being used to facilitate money laundering or terrorism financing.

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