Guidance Materials

1. LicenceOne Guide for Precious Stones and Precious Metals Dealers (“LicenceOne Guide”)

The LicenceOne Guide gives regulated dealers a step-by-step walkthrough of the application process in LicenceOne. Regulated dealers will be shown how to login, which account to login with, and what information they need to register.

2. Guidelines for Regulated Dealers in the Precious Stones and Precious Metals Dealers Sector on Anti-Money Laundering/Countering the Financing of Terrorism (“Guidelines”)

The Guidelines are meant to help regulated dealers understand the regulatory requirements under the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act and Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Regulations.

The Guidelines also provide sample forms and checklists to assist regulated dealers in meeting their regulatory obligations. However, regulated dealers remain responsible for ensuring that their AML/CFT measures are appropriately designed for their business and commensurate with their ML/TF risk exposure.

The sample forms and checklists in the Annexes of the Guidelines are also available in MS Word format for ease of editing.

3. Notice for Customers from the Ministry of Law (“Notice for Customers”)

The Notice for Customers explains that regulated dealers are required to collect identifying information from customers under the new regulatory regime. Regulated dealers may wish to consider using the Notice for Customers to educate their customers on the AML/CFT requirements.

4. Inter-Ministry Committee - Terrorist Designation (“IMC-TD”) website - Terrorist Designation List

Ministry of Home Affairs publishes list of individuals and entities designated under the United Nations Security Council Resolution. Regulated dealers should subscribe to the IMC-TD mailing list to receive listings on terrorist designation (persons and entities designated as terrorists). Regulated dealers are required to screen their customers against the lists before engaging in any business or commercial activity with them.

5. Monetary Authority of Singapore’s (“MAS”) website - Financial Sanctions List

MAS publishes list of individuals and entities designated under the United Nations Act and the Terrorism (Suppresion of Financing) Act. Regulated dealers are required to screen their customers against the lists before engaging in any business or commercial activity with them.