All provisions · AML/CFT Act (Cap. 251) · Part Vi: Preventive measures
45E Straight-through processing of transfers of virtual assets
(1) An intermediary virtual asset service provider shall —
(a) take reasonable measures, which are consistent with straight-through processing, to identify virtual asset transfers that lack required originator or beneficiary information; and
(b) adopt risk-based policies and procedures for determining —
(i) when to execute, reject or suspend a virtual asset transfer; and
(ii) the resulting procedures to be applied;
where the required originator or beneficiary information is incomplete.
(Inserted by Act 12 of 2024)
(a) take reasonable measures, which are consistent with straight-through processing, to identify virtual asset transfers that lack required originator or beneficiary information; and
(b) adopt risk-based policies and procedures for determining —
(i) when to execute, reject or suspend a virtual asset transfer; and
(ii) the resulting procedures to be applied;
where the required originator or beneficiary information is incomplete.
(Inserted by Act 12 of 2024)
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)
