C3: Prevention of Money Laundering and Countering the Financing of Terrorism (C3L1S0544)
To understand the impact of the legislations concerning anti-money laundering and countering financing of terrorism in Singapore within the real estate agency industry. To appreciate the Practice Circular on the Prevention of Money Laundering and Countering the Financing of Terrorism issued by CEA on 17 Sep 2015. To appreciate the legal obligations placed on estate agents and the salespersons by these legislations. To appreciate the approriate measures and procedures to be taken in the course of doing estate duty work.
- The salient features of the Corruption, Drug Trafficking and other Serious Crime Confiscation of Benefits Act ("CDSA") and the Terrorism (Suppression of Financing) Act ("TSOFA") in relation to the real estate agency industry.
- The various offenses and compliance requirements under these Acts, including:
- Offenses of Assisting or Facilitating Money Laundering or Terrorism Financing;
- Duties of Disclosure; and
- Lodging of Suspicious Transaction Report ("STR").
- How to identify suspicious transactions.
- Appreciation of CEA's Practice Circular.
- Development of due diligence and compliance procedures.
- Discussions and Case Studies.
Trainer: Harold Tan