Training Against Money Laundering and Terrorist Financing
11 May 2018 – A new mandatory training and proficiency test will soon be introduced for the corporate service providers (CSP) sector to help boost professional standards of the CSP industry and Singapore’s reputation as a trusted international financial and business hub. From 15 November 2018, CSPs seeking to be registered as Filing Agents (RFAs) with the Accounting and Corporate Regulatory Authority (ACRA) will need to undergo the training and a proficiency test before being allowed to register or renew their registrations.
CSPs provide services such as companies set-up, corporate secretarial services and statutory filing of documents with ACRA. In 2015, regulations [including anti-money laundering (AML) and counter financing of terrorism (CFT)] were introduced to require CSPs to register with ACRA. The new training programme is part of on-going efforts to strengthen the CSP sector’s resilience to illicit activities such as money laundering and terrorism financing.
Visit ACRA for more information.