Implementation Guidance Ep 200 Ig 2 - Anti-Money Laundering And Countering The Financing Of Terrorism - Institute Of Singapore Chartered Accountants Page 45
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47EP 200 IG 2
ANNEX 3
EXAMPLE OF ENHANCED CDD RELATING TO SOURCE OF WEALTH AND FUNDS
ANNEX 3: EXAMPLE OF ENHANCED CDD RELATING TO SOURCE OF WEALTH
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AND FUNDS
ADDITIONAL INFORMATION
Current estimated wealth
S$
(i.e. total assets):
Sources of wealth (how you
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acquired the wealth)
:
Sources of Wealth
Details
Indicate each source of
S$ ____________, of which
wealth (including past
sources) which contributed
S$ ____________ or ____________% is
to your wealth (e.g.
occupation, investments,
PEP-related.
inheritance, borrowings, etc);
and estimated amounts
generated from each source.
S$ ____________, of which
S$ ____________ or ____________% is
PEP-related.
S$ ____________, of which
S$ ____________ or ____________% is
PEP-related.
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This form applies to the following individuals where the professional firm determines that enhanced customer due diligence is
required:
(a)
Client (individual);
(b)
Beneficial owner of a company;
(c)
Where no individual can be identified as beneficial owner, the person having executive authority in a company; and
(d)
Any other individual the professional firm determines to be necessary.
Examples of situations where enhanced customer due diligence may be required include the above individuals identified as:
(a)
A foreign PEP, or his family members and close associates.
(b)
A high risk domestic PEP, or his family members and close associates.
(c)
A high risk international organization PEP, or his family members and close associates.
(d)
A high risk individual.
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The individual’s wealth refers to his total assets. The source of wealth generally refers to how the individual has acquired the
declared wealth (i.e. the origins). Therefore, the source of wealth information provided should be sufficiently detailed on how that
wealth is acquired, indicating each source (e.g. occupation, inheritance), and details of estimated amounts generated from each of
these sources of wealth, to enable one to explain or justify the individual’s declared estimated wealth.
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