# Enhanced Customer Due Diligence under Singapore AML regulations

**URL:** <https://www.amlfaqs.com/t/enhanced-customer-due-diligence-under-singapore-aml-regulations/433>\
**Category:** Infographics\
**Created:** [October 24, 2024, 7:31am UTC](https://www.amlfaqs.com/t/enhanced-customer-due-diligence-under-singapore-aml-regulations/433 "2024-10-24T07:31:34Z")\
**Posts on this page:** 1\
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**Author:** ![pathik](https://yyz2.discourse-cdn.com/flex010/user_avatar/www.amlfaqs.com/pathik/32/5_2.png) [@pathik](https://www.amlfaqs.com/u/pathik)\
**Post date:** [October 24, 2024, 7:31am UTC](https://www.amlfaqs.com/t/enhanced-customer-due-diligence-under-singapore-aml-regulations/433/1 "2024-10-24T07:31:34Z")

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Singapore’s AML regulations endorse a risk-based approach, necessitating heightened AML checks for customers assessed to present a high risk. Regulated entities are required to implement Enhanced Customer Due Diligence (EDD) measures for customers identified as having elevated money laundering or terrorist financing (ML/FT) risks.

EDD is also essential when interacting with Politically Exposed Persons (PEPs) or customers linked to jurisdictions with inadequate AML/CFT controls.

During the EDD process, regulated entities must verify the legitimacy of the customer’s income, source of funds and wealth, comprehend the purpose of transactions, and secure senior management’s approval before engaging with high-risk customers.

The following graphic illustrates the circumstances in which enhanced customer due diligence is required, along with the associated EDD obligations.

 ![Enhanced-Customer-Due-Diligence-under-Singapore-AML-regulations-Large](https://canada1.discourse-cdn.com/flex010/uploads/amlfaq/original/1X/b05b24a7c469d8da8c342074d8c973ccd32ba915.jpeg)

AML Singapore, part of the global consultancy firm [NIYEAHMA Consultants LLP](https://niyeahma.com/), offers extensive AML support tailored to regulated entities. The focus is on Singaporean regulations, providing services such as customizing AML policies, procedures, and training teams for effective implementation.

> **[Contact AML Singapore | Let's Talk](https://amlsingapore.com/contact-aml-singapore/)**
>
> Contact AML Singapore for solving your Anti-Money Laundering related issues and get the world-class services from our AML professionals