The AML/CFT requirements are prescribed in the Accountants (Prevention of Money Laundering and Financing of Terrorism) Rules 2023 and apply to:

(a)   An accounting entity which, by way of business, prepares to carry out or carries out transactions for a client concerning any of the following activities:

(i)             buying and selling of real estate;

(ii)            managing of client money, securities or other assets;

(iii)           management of bank, savings or securities accounts;

(iv)           organisation of contributions for the creation, operation or management of companies;

(v)            creation, operation or management of legal persons or arrangements, and buying and selling of business entities; and

(b)   an individual practitioner of the accounting entity which prepares to carry out or carries out any such transactions on behalf of the accounting entity.

 

Did you find this page useful?
back to top