Top Five Reasons to Choose SentroWeb AML/CFT Screening System for PSG
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There are no shortage of screening system for Anti-Money Laundering/ Countering the Financing of Terrorism (AML/CFT). Why choose us for the Productivity Solutions Grant (PSG)? Here are the top five reasons: REASON ONE: Pay for UNIQUE name searches Unlike many providers that also sell search credits, SentroWeb only deduct credits for unique name search and not per search. This means that if the same name is searched multiple times, instead of paying for each search,
How to apply for Productivity Solutions Grant (PSG) for SentroWeb?
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As of 24 Sep 2020, SentroWeb is listed as a pre-approved solution for Commercial Anti-Money Laundering (ML)/ Countering the Financing of Terrorism (FT) Screening. This means that eligible Singapore companies can get up to 80% funding support from Productivity Solutions Grant (PSG) to subscribe to SentroWeb pre-approved packages for a period of 12 months. As announced at Supplementary Budget 2020, PSG funding support is raised to 80% until 31 Dec 2020 to help companies cope
How to prepare for Bank Negara Malaysia (BNM) AML/CFT Compliance Review – A checklist for busy professionals
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On 31 Dec 2019, the Malaysia’s Bank Negara (BNM) has issued a new guideline on Anti-Money Laundering, Countering Financing of Terrorist (AML/CFT) and Targeted Financial Sanctions for Designated Non-Financials Businesses and Professions (DNFBPs) and Non-Bank Financial Institutions (NBFIs) ( i.e. the AML/CFT and TFS for DNFBPs and NBFIs ), to be effective on 1 Jan 2020. This new guideline now includes DNFBPs1 (or “professional firms”), in their obligations as reporting institutions, with respect to the requirements
How to prepare for Law Society AML/CFT review – A checklist for busy lawyers
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Since the implementation of Part VA of the Legal Profession Act on Prevention of Money Laundering and Financing of Terrorism, and the accompanying Legal Profession (Prevention of Money Laundering and Financing of Terrorism) Rules on 23 May 2015, the Law Society has conducted independent reviews on its members to assist the members in the compliance of the AML/CFT requirements. So how can legal practitioners prepare themselves for the AML/CFT review? We summarise the key
Partnership Announcement with Acuris Risk Intelligence
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Ingenique Solutions has inked a long-term partnership agreement with Acuris Risk Intelligence (ARI), a leading provider of Anti-Money Laundering/ Countering the Financing of Terrorism (AML/CFT) information. ARI data, which covers PEPs, sanctions, and adverse media, is now available on Ingenique Solutions’ SentroWeb-Acuris AML/CFT platform. SentroWeb-Acuris is used by professional firms (public accountants, trust and company services providers, lawyers), real estate agencies and many small and medium size companies in Singapore, Malaysia and Hong Kong. By
Anti-Money Laundering Training 2018
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We held our third Anti-Money Laundering (AML) training seminar on 9 Mar 2018, and we invited more than 100 participants to “lim kopi” with CPIB (Corrupt Practices Investigation Bureau)!Yes, this year we are happy to have Mr Cheot Zhi Chen, Senior Investigator of CPIB, to share with us his experiences in his line of duty when investigating corrupt practices in Singapore. In addition, we invited Mr Alfred Chia, a veteran in the finance industry to share his
Airing Dirty Laundry: Our Fight Against Money Laundering And Terrorism Financing
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Ingenique Solutions’ article on Today’s Manager (a quarterly senior management publication by the Singapore Institute of Management, SIM). Read about it here.Article brief:Money Laundering (ML) and Terrorism Financing (TF) RisksOur response as a nationPreventing ML/TF
The Importance of On-Going Monitoring
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In Nov 2017, a veteran Managing Director lawyer with 15 years of experience in conveyancing work, and a Senior Marketing Director of an international real estate agent were both charged in the Singapore Courts for failing to report to the authorities a suspicious property deal in the Sentosa Cove district. The charges were under the serious criminal Section 39(1) of The Corruption, Drug Trafficking and other Serious Crimes (Confiscation of Benefits) Act, commonly known as
Ingenique Solutions goes on air on 938Live
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Ingenique Solutions’ founder Martin Lim was on on 938Live “Breakfast Club” where he shared his views on Anti-Money Laundering/ Countering the Financing of Terrorism (AML/CFT) awareness among professional firms and small businesses in Singapore.If you have missed out on the interview, here’s a replay!Contents of the interview:What is the state of AML/CFT landscape among businesses in Singapore?How do small businesses fit into the overall Singapore’s defence against illicit fund flows and terrorism financing?Difficulties faced by business owners in
Veteran lawyer suspended for breaching Law Profession Act AML/CFT Rules – How to conduct customer due diligence?
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A veteran lawyer of 18 years’ standing was suspended in late-Sep 2017, from practice for two years and fined $100,000 for professional misconduct in a case relating to anti-money laundering (AML). In what had started out “innocuously” as an incident of breaching professional conduct rules, the case was eventually escalated into that of aiding money laundering activities, and finally deemed serious enough to be referred to the Court to mete out punishment. In sentencing, Chief