Regulation 7

a moneylender is unable to complete performing the CDD measures for any reason; (b)a borrower is unable or unwilling to provide any information requested by the moneylender, or decides to withdraw the application for a loan when requested to provide information;

a loan is granted, to be granted or would have been granted to a person —

whom the moneylender knows or ought reasonably to know is a politically-exposed person; or

from or in a country outside Singapore known to have inadequate measures for the prevention of money laundering, terrorism financing or proliferation financing —

as determined by the moneylender; or

as notified to moneylenders generally by the Registrar, a relevant law enforcement authority or a relevant foreign regulatory authority;

a loan is part of an unusual pattern of loans with no apparent economic or lawful purpose; or

any other circumstance exists for the making of a disclosure under section 45(1) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 or Part 3 of the Terrorism (Suppression of Financing) Act 2002,the moneylender concerned —

if a business relation has yet to be entered into, must not enter into one with the borrower concerned; and

if the transaction or loan in question has yet to be entered into or granted, must not enter into the transaction or grant the loan.

document the basis for the moneylender’s determination as to whether a disclosure under section 45(1) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 or Part 3 of the Terrorism (Suppression of Financing) Act 2002 should be made; and

where the moneylender has made such disclosure —

submit a copy of the document by which the disclosure is made to the Registrar; and

keep a record of the transaction in question, together with the findings of the moneylender and analysis done by the moneylender concerning the transaction, for a period of at least 5 years beginning on the date of the transaction.