Daily Compliance Brief — Singapore Directs Regulated Dealers to Apply FATF High-Risk Jurisdiction Measures

November 3, 2026

Signal

On November 3, 2026, Singapore’s Registrar of Regulated Dealers issued a notice directing regulated dealers to apply enhanced customer due diligence to specified customers and transactions linked to high-risk jurisdictions. The notice, published by Singapore’s Ministry of Law Anti-Money Laundering / Countering the Financing of Terrorism Division, implements the FATF statements issued on October 30.

The notice identifies the Democratic People’s Republic of Korea and Iran as subject to countermeasures, and Myanmar as subject to enhanced due diligence measures. It also directs dealers to consider the FATF’s updated list of jurisdictions under increased monitoring when updating risk assessments and mitigation plans.

Why it matters

For regulated precious stones and precious metals dealers in Singapore, the notice sets a direct compliance expectation under regulation 7(1) of the PMLTFPF Regulations. Customer and transaction screening should identify relevant jurisdictional links, including cases where a customer acts on behalf of another person or where the transaction itself relates to a listed jurisdiction.

Risk assessments and mitigation plans should reflect the updated FATF statements and increased-monitoring list. Firms should apply enhanced due diligence where required, while avoiding automatic de-risking of entire customer or jurisdiction categories beyond the applicable requirements.