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AML/CFT Compliance Services
Robust compliance solutions to meet Singapore and international Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) obligations.
AML/CFT Compliance Services
Robust compliance solutions to meet Singapore and international Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) obligations.
Eltoma (Singapore) Pte. Ltd. provides end-to-end AML/CFT compliance services for regulated and non-regulated businesses. We ensure our clients implement policies, procedures, and controls that align with Singapore’s Monetary Authority of Singapore (MAS) requirements, international Financial Action Task Force (FATF) standards, and relevant sectoral regulations.
Who we assist:
- Financial institutions licensed under the Securities and Futures Act 2001 (SFA), Financial Advisers Act 2001 (FAA), and Payment Services Act 2019.
- Corporate service providers (CSPs) regulated under the Accounting and Corporate Regulatory Authority (ACRA).
- Investment funds and fund managers subject to MAS AML/CFT notices.
- Real estate agencies, dealers in precious metals and stones, and other Designated Non-Financial Businesses and Professions (DNFBPs).
- Unregulated entities implementing AML/CFT frameworks for risk mitigation or international banking requirements.
Our Services Include:
- Drafting comprehensive AML/CFT Policies and Procedures in line with MAS Notices (e.g., MAS Notice PSN01, SFA 04-N02, FAA-N06).
- Tailoring procedures to reflect your business model, product risk profile, and customer base.
- Annual review and update of policies to incorporate legislative changes and updated FATF recommendations.
- Implementing risk-based CDD processes for onboarding and ongoing monitoring.
- Enhanced Due Diligence (EDD) for high-risk customers, PEPs, or high-risk jurisdictions.
- Sanctions screening against the UN Security Council Consolidated List and Singapore’s Ministry of Home Affairs lists.
- Ongoing monitoring procedures for customer transactions and relationships.
- Conducting enterprise-wide AML/CFT risk assessments.
- Developing and implementing risk matrices for customers, products, delivery channels, and geographies.
- Documenting mitigation strategies for identified risks in compliance with MAS expectations.
- Advising on transaction monitoring systems and alert thresholds.
- Drafting and filing Suspicious Transaction Reports (STRs) to the Suspicious Transaction Reporting Office (STRO) of the Commercial Affairs Department.
- Maintaining internal STR registers and ensuring confidentiality of reports.
- Preparing AML/CFT compliance documentation for MAS licence applications.
- Advising on outsourcing arrangements while ensuring regulatory compliance.
- Gap analysis against MAS inspection findings and best practice standards.
- Delivering AML/CFT training for directors, compliance officers, and front-line staff.
- Designing training modules for specific sectors, including financial services, CSPs, and DNFBPs.
- Conducting compliance drills and testing knowledge retention.
- Performing annual independent audits of AML/CFT frameworks as required under MAS Notices.
- Providing management with detailed audit reports and remediation recommendations.
How it works?
We work hard every day to make life of our clients better and happier
- Initial compliance reviewAssess current AML/CFT frameworks and identify gaps.
- Policy design or enhancementDraft or refine procedures to meet legal and regulatory obligations.
- Implementation supportAssist with operational rollout, training, and system set-up.
- Ongoing compliance monitoringPeriodic reviews and updates in response to legal changes.
- Regulatory liaisonAssist during MAS inspections and regulatory inquiries.
Compliance anchor points:
- Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 (CDSA) – AML obligations and predicate offences.
- Terrorism (Suppression of Financing) Act 2002 (TSOFA) – CFT obligations and sanctions compliance.
- Monetary Authority of Singapore (MAS) Notices – sector-specific AML/CFT requirements.
- United Nations Act 2001 – enforcement of UN Security Council sanctions.
- Companies Act 1967 – beneficial ownership and registrable controllers obligations.
Deliverables:
- Fully tailored AML/CFT policy and procedure manual.
- CDD/KYC checklists and risk assessment templates.
- Sanctions screening protocols and reporting templates.
- Training materials and attendance records.
- Independent audit report with remediation plan.
Why choose Eltoma?
-
Regulatory expertise – in-depth knowledge of MAS, FATF, and ACRA requirements. - Practical solutions – policies designed to be compliant yet operationally workable.
- Proactive approach – monitoring global and local AML/CFT regulatory developments.
- End-to-end service – from policy design to regulatory inspections.
- Multi-sector experience – financial, corporate services, real estate, and trade sectors.
FAQs:
- Yes — even unregulated companies benefit from having an AML/CFT framework, especially when opening bank accounts or dealing internationally.
- Yes — we provide practical, sector-specific training that includes real-world examples.
- At least annually, or immediately following any material regulatory change.
- Yes — we prepare the required AML/CFT policies and compliance plans for submission.
- Yes — we can provide outsourced compliance functions on a contractual basis.
| | Need to ensure your business meets all AML/CFT obligations?
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