Page 49 - ar2013

Corporate Governance
& Sustainability
MAS, the Manager abides
by the MAS’ guidelines on
the prevention of money
laundering and countering the
financing of terrorism. Under
these guidelines, the main
obligations of the Manager are:
š Ykijec[h Zk[ Z_b_][dY[1
š ikif_Y_eki jhWdiWYj_ed
reporting;
š h[YehZ a[[f_d]1
š [cfbeo[[ iYh[[d_d]1 WdZ
š ijW\\ jhW_d_d]$
The Manager has developed
and implemented a policy
on the prevention of money
laundering and terrorist
financing and is alert at
all times to suspicious
transactions. Where there
is a suspicion of money
laundering or terrorist
financing, the Manager
performs due diligence
checks on its counterparties
in order to ensure that it
does not enter into business
transactions with terrorist
suspects or other high risk
persons or entities. Suspicious
transactions are also
reported to the Suspicious
Transaction Reporting
office of the Commercial
Affairs Department.
Under this policy, the Manager
must retain all relevant records
or documents relating to
business relations with its
customers or transactions
entered into for a period of at
least five years following the
termination of such business
relations or the completion of
such transactions.
All prospective employees
of the Manager are also
screened against various lists
of terrorist suspects issued by
the MAS. Periodic training is
provided by the Manager to
its licensed representatives
to ensure they are updated
and aware of applicable anti-
money laundering and terrorist
financing regulations, the
prevailing techniques and
trends in money laundering
and terrorist financing and
the measures adopted by
the Manager to combat
money laundering and
terrorist financing.
47