Implementation Guidance Ep 200 Ig 2 - Anti-Money Laundering And Countering The Financing Of Terrorism - Institute Of Singapore Chartered Accountants Page 40
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47EP 200 IG 2
ANNEX 2
EXAMPLES OF FACTORS TO CONSIDER IN AML/CFT RISK ASSESSMENT
The following sets out examples of factors that professional accountants and professional firms
should consider when performing risk assessment. These are examples of factors and are not
exhaustive.
SECTION A
If the response to any of the statements in Section A is “Yes”, the professional firm shall NOT establish
business relationship with the client.
Response
The client is unable to provide all the required information in the relevant
Yes
No
forms.
Yes
The required information obtained cannot be verified to independent and
No
reliable documents.
The client, beneficial owner of the client, person acting on behalf of the
Yes
No
client, or connected party of the client matches the details in the following
lists:
(a) The “Lists of Designated Individuals and Entities” on the MAS website;
(b) The “Terrorist Alert List” on the ISCA website; or
(c) Any other similar lists and information required of professional firms for
screening purposes stipulated by relevant authorities in Singapore
including the Accounting and Corporate Regulatory Authority; and
and the exceptions cannot be disposed of satisfactorily.
There is suspicion of money laundering and/or terrorist financing.
Yes
No
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