The circular was issued by MAS on the back of industry-wide survey of VCCs in 2021, and followed up with a series of thematic reviews. It sets out key observations and expectations for VCCs and their eligible financial institutions (EFIs). Below is a summary and please refer to the circular for full details, available on https://www.mas.gov.sg/regulation/circulars/circular-on-enhancing-amlcft-controls-in-the-vcc-sector.
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