Monetary Authority of Singapore - TERRORISM (SUPPRESSION OF FINANCING) ACT
The terrorism (suppression of financing) act, enforced by the monetary authority of singapore, aims to prevent the financing of terrorism. this regulation empowers authorities to take action against individuals and organizations suspected of funding terrorist activities. It mandates strict reporting requirements for financial institutions and requires them to conduct thorough checks on their customers to detect any suspicious transactions.
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50 Entities in Monetary Authority of Singapore - TERRORISM (SUPPRESSION OF FINANCING) ACT
| Entity Name | Entity Type | Effective Date | Status |
|---|---|---|---|
Ruqayyah binti Ramli | Company | Jan 16, 2023 | inactive |
Rosli bin Hamzah | Company | Jan 16, 2023 | inactive |
Md Jabath Kysar Haje Norul Islam Sowdagar | Company | Jan 21, 2025 | active |
Megat Shahdan bin Abdul Samad | Company | Jan 21, 2025 | active |
Maimunah Binti Abdul Kadir | Company | Jan 21, 2025 | active |
Mohamed Kazali bin Salleh | Company | Jan 21, 2025 | inactive |
Anindia Afiyantari | Company | Jan 21, 2025 | active |
Radjev Lal | Company | Jan 21, 2025 | active |
Muhammad Irfan Danyal Bin Mohamad Nor | Company | Jan 21, 2025 | active |
Abu Thalha Bin Samad | Company | Jan 16, 2023 | inactive |
FAQs
Why is compliance with Monetary Authority of Singapore - TERRORISM (SUPPRESSION OF FINANCING) ACT necessary?
Compliance with the Terrorism (Suppression of Financing) Act, enforced by the Monetary Authority of Singapore (MAS), is crucial for several reasons. first, this legislation is designed to prevent the financing of terrorism, which can pose a significant threat to national and global security. by adhering to these regulations, organizations help protect their community and contribute to global peace.
Which companies should comply with Monetary Authority of Singapore - TERRORISM (SUPPRESSION OF FINANCING) ACT?
Companies in the financial services industry, as well as businesses dealing with money transfers, charities, and real estate, must comply with the Terrorism (Suppression of Financing) Act. Compliance is crucial to prevent financial support for terrorism, protect the company's reputation, and avoid severe penalties. Adhering to these regulations safeguards both the business and the community.
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