MAS Notice 626

With effect from 1 July 2007 anti-money laundering and countering of terrorist financing regulations issued by the Monetary Authority of Singapore require that wire transfers of funds must contain the following originator information:

Name of originator
Originator’s account number or unique reference number; and
Originator ‘s address, unique identification number ( for example NRIC or Passport number for individuals and company registration number for corporate entities) or date and place of birth ( for individuals; and for corporate entities, the equivalent would be the date and place of incorporation.)

Please be informed that with immediate effect, we will include the information specified above in all wire transfers you request us to effect, in order to comply with the regulations.If you have provided your consent to our disclosure of your information which will enable us to comply with the regulations, we will rely on such consent for any wire transfers you request us to effect.

If you have not previously given your consent to our disclosure of your information, by requesting us to effect a wire transfer of funds at any time after the date of this letter, you will be deemed to have consented to us disclosing such information. We regret that if you do not provide us with the required information or if you do not consent to the necessary disclosure, we will not be permitted to process the wire transfer on your behalf.

Under the regulations, we are also required to ensure that any funds received by us in your favour contain the above information in relation to the originator of the funds. Where we receive any incoming funds that do not contain the above information, we may not be able to credit the funds to your account until the required information is received. In such circumstances, we will not be responsible for any delay in crediting the funds to your account or for any inability to do so where the originator information is not received by us.

To avoid such situations, you may wish to inform the relevant parties of the requirements so that they can ensure that the necessary information is provided when they make payments to you.

If you require any clarification regarding this letter, please contact your relationship manager.




	MAS Updates




	MAS Notice 626 With effect from 1 July 2007 anti-money laundering and countering of terrorist financing regulations issued by the Monetary Authority of Singapore require that wire transfers of funds must contain the following originator information: Name of originator Originator’s account number or unique reference number; and Originator ‘s address, unique identification number ( for example NRIC or Passport number for individuals and company registration number for corporate entities) or date and place of birth ( for individuals; and for corporate entities, the equivalent would be the date and place of incorporation.) Please be informed that with immediate effect, we will include the information specified above in all wire transfers you request us to effect, in order to comply with the regulations.If you have provided your consent to our disclosure of your information which will enable us to comply with the regulations, we will rely on such consent for any wire transfers you request us to effect. If you have not previously given your consent to our disclosure of your information, by requesting us to effect a wire transfer of funds at any time after the date of this letter, you will be deemed to have consented to us disclosing such information. We regret that if you do not provide us with the required information or if you do not consent to the necessary disclosure, we will not be permitted to process the wire transfer on your behalf. Under the regulations, we are also required to ensure that any funds received by us in your favour contain the above information in relation to the originator of the funds. Where we receive any incoming funds that do not contain the above information, we may not be able to credit the funds to your account until the required information is received. In such circumstances, we will not be responsible for any delay in crediting the funds to your account or for any inability to do so where the originator information is not received by us. To avoid such situations, you may wish to inform the relevant parties of the requirements so that they can ensure that the necessary information is provided when they make payments to you. If you require any clarification regarding this letter, please contact your relationship manager.

MAS Updates