Singapore legislation
Clause 20
of Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Bill
Clause 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.