Drug Trafficking (Confiscation of Benefits) Act · 1993 Revised Edition · Part V · Information Gathering Powers
38. Communication of information by financial institutions to law enforcement agencies
Feedback & supportWhere a financial institution has information about an account held with the institution and the institution knows that —
financial institution
“financial institution” includes —(a)a bank licensed under the Banking Act;(b)a merchant bank that is approved as a financial institution under section 28 of the Monetary Authority of Singapore Act;(c)a finance company licensed under the Finance Companies Act;(d)a dealer or an investment adviser licensed under the Securities Industry Act;(e)a futures broker, a futures trading adviser or a futures pool operator licensed under the Futures Trading Act;(f)a company or society registered under the Insurance Act; and(g)such other company or class of companies which the Minister may by order prescribe;
the information may be relevant to an investigation of, or the prosecution of a person for, any offence; or
the information would otherwise be of assistance in the enforcement of this Act or any regulations made thereunder,the institution may give the information to any authorised officer.
An action, suit or proceeding shall not lie against —
a financial institution; or
a person who is an officer, employee or agent of the institution acting in the course of his employment or agency,in relation to any action taken by that institution or person pursuant to subsection (1).