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EP 200 IG 1 was issued to provide clarification to professional accountants and professional firms when they implement the requirements in EP 200 (Revised on 1 June 2023) Anti-Money Laundering and Countering the Financing of Terrorism – Requirements and Guidelines for Professional Accountants in Singapore.
To ensure that Singapore’s anti-money laundering (AML) regime remains robust, an Inter-Ministerial Committee (IMC) was established to review our AML framework and identify areas that can be strengthened. EP 200 IG 1 (Revised 2025) has been updated in the following key areas to reflect recommendations arising from the IMC review:
- Guidance on what professional firms should do when there are positive hits against the sanction lists during screening.
- Broad principles on source of wealth or funds checks.
- Guidance on what professional accountants should do in relation to filing of suspicious transactions reports.
Please click here for EP 200 IG 1 (Revised 2025).