Singapore Internal Policies, Procedures and Controls (IPPC) Template
Proprietary customizable IPPC template with 90% complete for Anti Money Laundering and Counter-Financing of Terrorism (AML/CFT) compliance.
✔ IPPC document template
✔ Risk assessment template
✔ CDD forms
✔ 1.5-hour Training
Ministry of Law (MinLaw), ACRA’s and Law Society’s (LawSoc) Anti-Money Laundering/ Countering the Financing of Terrorism (AML/CFT) review on Precious Stones Precious Metals Dealers (PSMDs), Registered Filing Agents (RFAs) and law practices respectively, require firms to have Internal Policies, Procedures and Controls (IPPC) implemented firm-wide and documented in an IPPC document.
If you are a PSMD, Minlaw require you to submit the mandatory semi-annual returns related to your business and transactions. Your entity based IPPC and risk assessment are required to complete the submission. Minlaw compliance review will be based on your IPPC and risk assessment.
If you are a RFA, prior to the review, you are to download a Self Assessment Form and complete the form. There are heavy weightage place on the RFA’s implementation of Section B – Risk based approach and risk assessment, Section C – IPPC document, and Section D – Customer Due Diligence (CDD) and beneficial ownership information.
For busy professionals like yourself, or you are not sure how to develop an IPPC document, you can now purchase a customizable AML policy template.
The templates are delivered in Microsoft Word/ Excel format, and are almost 90% complete for your firm to use. With these templates and training, you can adjust and customize to your firm’s requirements, and be ready for MinLaw, ACRA or LawSoc AML/CFT review!
Contents of IPPC Template:
2. POLICY STATEMENT
3. MANAGEMENT OVERSIGHT
4. RISK ASSESSMENT
5. CUSTOMER DUE DILIGENCE (“CDD”)
6. ENHANCED CUSTOMER DUE DILIGENCE
7. RECORD KEEPING
8. ON-GOING MONITORING
9. REPORTING A SUSPICIOUS TRANSACTION
10. AUDIT AND COMPLIANCE
11. HIRING OF NEW STAFF AND TRAINING
APPENDIX A. AML/CFT ROLES & RESPONSIBILITIES
APPENDIX B. RISK ASSESSMENT
APPENDIX C. INDICATORS OF SUSPICIOUS TRANSACTIONS
Customer Due Diligence Forms:
Form 1 Customer Information
Form 2 Client’s Particulars (Individual or Entity)
Form 3 Politically Exposed Person Information
Form 4 Risk Assessment
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