Singapore legislation
Section 139
Section 139
Customer due diligence measures to combat money laundering and terrorism financing
(1)
A casino operator must, in the following circumstances, perform such customer due diligence measures to detect or prevent money laundering and the financing of terrorism as may be prescribed in regulations:
when the casino operator opens a patron account;
when the casino operator enters into a cash transaction with a patron involving $10,000 or more in a single transaction;
when the casino operator receives a sum of $5,000 or more in a single transaction to be deposited in a deposit account;
when the casino operator has a reasonable suspicion that a patron is engaged in any money laundering or terrorism financing activity;
when the casino operator has doubts about the veracity or adequacy of any information previously obtained about a patron;
when carrying out such other activities, or under such other circumstance, as may be prescribed.
(2)
A casino operator must not proceed with the opening of any patron account or with any transaction for any patron account, or with any cash transaction or deposit, as the case may be —
if the casino operator is unable to complete the applicable customer due diligence measures for any reason;
if the patron in question is unable or unwilling to provide any information requested by the casino operator, or decides to withdraw the application for the opening of the patron account or withdraw the cash transaction or deposit when requested to provide information; or
under such other circumstances as may be prescribed.
(3)
A casino operator must keep all records obtained through the customer due diligence measures taken under subsection (1), including (but not limited to) all copies or records of any identification document, accounts and business correspondence, as well as the results of any analysis undertaken.
(4)
Any casino operator which fails to comply with subsection (1), (2) or (3) shall be liable to disciplinary action.
(5)
In this section —
Definition
“cash” means currency notes and coins (whether of Singapore or of a foreign country) which are legal tender and circulate as money in the country of issue;
Definition
“patron” means any person who —
opens a patron account with a casino operator; or
is involved in a cash transaction with a casino operator within its casino premises,whether or not that person participates in gaming in the casino;
Definition
“patron account” means a credit account, a cheque cashing account, a deposit account or any other account opened by or on behalf of a patron with a casino operator.