On or about 14 September 2020, the Institute of Singapore Chartered Accountants (ISCA) has strongly encouraged professional accountants are also strongly encouraged to subscribe to the Anti-Money Laundering / Countering the Financing of Terrorism and Targeted Financial Sanctions section of the MAS website.
Singapore being a member of the United Nations (UN), gives effect to the sanctions under the UN Security Council Resolutions. The sanctions are made legally binding through the Regulations issued pursuant to the UN Act (UN Regulations).
By subscribing to the Anti-Money Laundering / Countering the Financing of Terrorism and Targeted Financial Sanctions section of the MAS website, the professional accountants will be alerted to changes to the lists of UN designated individuals and entities, and stay abreast of other relevant announcements, such as high risk jurisdictions identified by the Financial Action Task Force (FATF).
This is also to ensure compliance with the anti-money laundering and countering the financing of terrorism requirements in the Ethics Pronouncement 200.