All provisions · AML/CFT Act (Cap. 251) · Part Vi: Preventive measures
30A Designation of Non-Profit Organisations
(1) The FIU shall, following the conduct of a risk assessment of the NPO sector, in consultation with the Registrar and the Committee, determine the appropriate risk levels for the purpose of designating any NPO as a high-risk NPO, through a directive.
(2) Upon review of the risk assessment referred to in subsection (1) and on deriving the updated risk levels, if a designated NPO is no longer considered as a high-risk NPO, the FIU shall notify the said NPO accordingly.
(3) The list of designated NPOs shall be confidential and shall not be accessible to the general public.
(4) The FIU may impose administrative sanctions referred to in section 60(3) on the NPOs to whom this section applies.
(5) Any NPO aggrieved by the decision of the FIU under subsection (4) may appeal to the Appeals Board under section 62, as if it is a reporting entity.
(Inserted by Act 7 of 2021)
(6) The designated high-risk NPO’s under subsection (1) shall be regulated in accordance with the regulations, as may be prescribed by the Minister in consultation with the Committee. (Inserted by Act 62 of 2021)
(2) Upon review of the risk assessment referred to in subsection (1) and on deriving the updated risk levels, if a designated NPO is no longer considered as a high-risk NPO, the FIU shall notify the said NPO accordingly.
(3) The list of designated NPOs shall be confidential and shall not be accessible to the general public.
(4) The FIU may impose administrative sanctions referred to in section 60(3) on the NPOs to whom this section applies.
(5) Any NPO aggrieved by the decision of the FIU under subsection (4) may appeal to the Appeals Board under section 62, as if it is a reporting entity.
(Inserted by Act 7 of 2021)
(6) The designated high-risk NPO’s under subsection (1) shall be regulated in accordance with the regulations, as may be prescribed by the Minister in consultation with the Committee. (Inserted by Act 62 of 2021)
Official source: Anti-Money Laundering and Countering the Financing of Terrorism Act (Cap. 251), Act 5 of 2020, Revised Edition as at 17 January 2025 (Acts 5 of 2020, 7 of 2021, 8 of 2021, 62 of 2021, 9 of 2022, 12 of 2024, S.I. 145 of 2020)
