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Will the inclusion of counter-proliferation financing (“CPF”) as of 1 May 2024 and the new requirements for PSMD to implement CPF programmes and measures) lead to significant changes for businesses/persons?
mlaw
Source: https://www.mlaw.gov.sgThe new requirement is not expected to result in significant changes on the affected businesses. The implementation of CPF programmes and measures will be similar to those targeted at AML/CFT that PSMDs are already required to put in place.
Examples of such CPF programmes and measures include performing risk assessment, and developing and implementing internal policies, procedures, and controls (“IPPC”).
This information provided here is sourced from the MLAW website.
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