Singapore legislation
Regulation 13
Regulation 13
On-going monitoring of transactions
Subregulation 1
A casino operator shall continually monitor the transactions in each of its patron accounts to ascertain whether the transactions are consistent with the casino operator’s knowledge of the patron, his income and risk profile and his source or sources of funds.
Subregulation 1A
In determining whether to investigate any particular transaction or series of transactions in a patron account, a casino operator must have regard to the risks of money laundering, terrorism financing and proliferation financing that the casino operator assesses the transaction or series of transactions, and the patron or the beneficial owner of that patron account, to present.
Subregulation 2
A casino operator shall periodically review the adequacy of information it has obtained in respect of patrons and beneficial owners of patron accounts and ensure that the information is kept current.
Subregulation 3
In determining the frequency of review under paragraph (2), the casino operator must have regard to —
the risks of money laundering, terrorism financing and proliferation financing that the casino operator assesses the patron in question, or the beneficial owner of the patron account in question, to present; and
the thresholds of materiality established under regulation 17(4)(a).