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Singapore does its paperwork

A small change for life insurers in Singapore – if they report a suspicious item to the STRO (Suspicious Transaction Reporting Office, Singapore’s FIU and part of their polic force), the regulations now state that the company has to retain the record of the filing and all the documentation and research that led up to it.

Link:

PREVENTION OF MONEY LAUNDERING AND COUNTERING THE FINANCING OF TERRORISM – LIFE INSURERS

Categories: Anti-Money Laundering

eric9to5

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