Singapore legislation

Regulation 4

of Moneylenders (Prevention of Money Laundering, Terrorism Financing and Proliferation Financing) Rules 2009

Regulation 4

General principles

Subregulation 1

A moneylender must exercise due diligence in accordance with these Rules when dealing with any borrower, or any agent or beneficial owner of a borrower.

Subregulation 2

A moneylender must conduct the moneylender’s business in such a manner as to guard against the grant of any loan that is, may be connected with or facilitates money laundering, terrorism financing or proliferation financing.

Subregulation 3

A moneylender must assist and cooperate with the relevant law enforcement authorities in detecting and preventing —

(a)

money laundering;

(b)

terrorism financing; and

(c)

proliferation financing.

Read in full context — Moneylenders (Prevention of Money Laundering, Terrorism Financing and Proliferation Financing) Rules 2009 →