The Anti-Money Laundering/Countering the Financing of Terrorism Division (“ACD”) of Ministry of Law is organising online trainings in May 2021 for registered Precious Stones and Precious Metals Dealers (“PSMD”), to provide guidance on the submission of semi-annual returns. The training is only available in English.
As a regulated dealer, you are required to submit mandatory semi-annual returns related to your business and transactions in six-months periods with effect from 1 January 2021. The first reporting period is from 1 January 2021 to 30 June 2021, and the submission will be due within 30 days, i.e. by 30 July 2021. More information on this reporting requirement can be found here.
The training aims to provide guidance on:
- understanding the information required for submission; and
- how to submit the semi-annual returns.
We would like to thank all participants for their support of this event in May 2021.
Regulated dealers will have to submit the semi-annual returns electronically through the my Precious Stones and Precious Metals Dealer’s Portal (myPal).
Please watch this guidance video to preview myPal and how to submit the semi-annual return. You may refer to the instruction guide for a step-by-step walkthrough (with screenshots) on how to navigate and submit the semi-annual return via myPal. Please click here to access myPal to complete your submission.
Please refer to the “FAQs” under the Precious Stones and Precious Metals Dealers section for Frequently Asked Questions relating to the regulatory regime. For further queries, please click here.