As a precious stones and precious metals dealer, are there individuals and entities that I am prohibited from dealing with? Where can I find the relevant information / lists of such individuals and entities?
The list of prohibited individuals and entities can be found on:
1) Ministry of Home Affairs: Inter Ministerial Committee-Terrorist Designation ("IMC-TD") website for persons designated as terrorists (google "IMC-TD + MHA" for https://www.mha.gov.sg/inter-ministry-committee-terrorist-designation-(imc-td);
2) Monetary Authority of Singapore ("MAS") website for persons designated on relevant UN Sanction Lists (google "targeted financial sanctions + MAS" for http://www.mas.gov.sg/regulation/anti-money-laundering/targeted-financial-sanctions/lists-of-designated-individuals-and-entities)
Please ensure that you are not dealing with prohibited individuals and entities.
Related questions
I am a foreign incorporated business/ company/ individual. Do I need to register (e.g. I am the supplier of precious stones and precious metals to a regulated dealer in Singapore. I do not carry out sales in Singapore)?
Will there be training to help me comply with the regulatory requirements?
Who needs to register as a regulated dealer?
I am unable to obtain all the identity of the individuals with senior management position of my corporate customer. Can I just proceed to transact with the corporate customer by obtaining and verifying the ACRA BizFile report only? What if customer refuses to provide his identifying information for customer due diligence?
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