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  • Inward Transfers

    • AML-2A.2.4

      Capital Market Licensees must:

      (a) Maintain records (in accordance with Chapter AML-6 of this Module) of all originators information received with an inward transfer; and
      (b) Carefully scrutinize inward transfers which do not contain originator information (i.e. full name, address and account number or a unique customer identification number). Capital Market Licensees must presume that such transfers are ‘suspicious transactions’ and pass them to the MLRO for review for determination as to possible filing of STR, unless (i) the ordering financial institution is able to promptly (i.e. within two business days) advise the licensee in writing of the originator information upon the licensee’s request (Refer to Paragraph AML-2A.2.5); or (ii) the ordering financial institution and the licensee are acting on their own behalf (as principal).
      Amended: January 2022
      Added: January 2020

    • AML-2A.2.5

      The period of 2 business days provided to ordering financial institution by the Capital Market Licensees under Paragraph AML-2A.2.4(b)(i) to furnish the originator information is only applicable while undertaking fund transfer (traditional wire transfer) and must not be used in case of transfer of accepted crypto-assets.

      Amended: January 2022
      Added: January 2020

    • AML-2A.2.6

      While undertaking accepted crypto-asset transfer, a Capital Market Licensees must ensure that the ordering financial institution transmits the originator and beneficiary information immediately (Refer to Paragraph AML-2A.2.9).

      Amended: January 2022
      Added: January 2020