Dear CIMA Member,
1 We would like to seek your assistance to participate in an Anti-Money Laundering / Countering the Financing of Terrorism (AML/CFT) survey for accountants conducted by ACRA. The purpose of this survey is to help ACRA better understand the role accountants play in combating ML/TF in Singapore, particularly when accountants are involved in preparing or carrying out certain transactions on behalf of clients concerning activities which have been designated by the Financial Action Task Force (FATF) to be susceptible to ML/TF risks (herein referred to as “FATF-designated activities”). These activities relate to the:
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; and
v. Creation, operation, or management of legal persons or arrangement, and buying and selling of entities.
2 The survey would take approximately 5 – 15 minutes to complete and comprises 8 main questions (with additional 10 drop-down questions which are to be completed for “yes” responses). The survey is hosted via the FormSG website, a government online portal, and can be found at this link. The survey will be open from 1 November 2021 to 1 December 2021.
3 Please note that you will only need to complete the survey if you are:
a) A professional accountant in public practice, i.e. you own, control or is employed by a professional firm that provides professional services.
b) Involved in preparing for or carrying out transactions for clients concerning FATF-designated activities.
You may refer to the survey instructions for further definitions. If you are also a member of other professional accountancy-related bodies, you would only need to respond to this survey once.
4 As indicated in the survey, no personal data will be collected from you for the purposes of this survey and the information collected will be analysed at an aggregated level.
5 We look forward to and appreciate your participation in ACRA’s survey. Thank you.