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Anti-Money Laundering / Countering the Financing of Terrorism Division
Past Events

Compliance Training

7 December 2021

Training held between Feb 2021 and Dec 2021

The Anti-Money Laundering/Countering the Financing of Terrorism Division (“ACD”) of the Ministry of Law is organising a Compliance Training for the registered dealers in the Precious Stones and Precious Metals Dealers (“PSMD”) sector.

The Compliance Training aims to enable your customer-facing staff and compliance officer to fulfil the transaction-based requirements with knowledge on when and how to perform Customer Due Diligence (“CDD”) and Enhanced Customer Due Diligence (“ECDD”) and when and how to file Cash Transaction Report (“CTR”) and Suspicious Transaction Report (“STR”).

Training objectives:

  • Be aware of the importance of Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) in the Precious Stones and Precious Metals Dealers (“PSMD”) sector

  • Understand and describe your roles and responsibilities on AML/CFT compliance

  • Identify and deal with red flag indicators

  • Carry out the AML/CFT measures when transacting with customers

We would like to thank all participants for their support of this event from February 2021 to December 2021. Please stay tuned to our website for any upcoming events organised by us.

Please refer to the FAQs (opens in new tab) under the Precious Stones and Precious Metals Dealers section for Frequently Asked Questions relating to the regulatory regime. For further queries, please click here (opens in new tab).