[P103S0544] Prevention of Money Laundering and Countering the Financing of Terrorism (PMLC)

CPD Category: Professional (2 CPD credits awarded)

Course Duration: 3.0 hours

Course Synopsis

Expected Learning Outcomes:

The salient features of the Corruption, Drug Trafficking and other Serious Crimes (Confiscation of Benefits) Act (“CDSA”) and the Terrorism (Suppression of Financing) Act (“TSOFA”) in relation to the real estate agency industry.
The various offences and compliance requirements under these Acts, including:-

1. Offences of Assisting or Facilitating Money Laundering or Terrorism Financing;
2. Duties of Disclosure; and
3. Lodging of Suspicious Transaction Report (STR”);- How to identify suspicious transactions.
   – Appreciation of CEA’s Practice Circular.
   – Development of due diligence and compliance procedures.
   – Discussions and Case studies.
   – To understand the impact of the legislations concerning anti-money laundering and countering the financing of terrorism in Singapore on the real estate agency industry.
   – To appreciate the Practice Circular on the Prevention of Money Laundering and Countering the Financing of Terrorism issued by CEA on 22 Nov 2013.
   – To appreciate the legal obligations placed on estate agents and the salespersons by these legislations.
   – To appreciate the appropriate measures and procedures to be taken in the course of doing estate duty work.