Obligation of Property Developers to Report Property Buyers Failing Customer Due Diligence Checks

Ms Mariam Jaafar asked the Minister for Home Affairs (a) whether property developers are obligated to report property buyers who fail the Customer Due Diligence (CDD) checks performed on them to the authorities; and (b) if so, to date, how many property buyers have failed such CDD checks.

Mrs Josephine Teo: Many Members have filed queries on the recent anti-money laundering operations conducted by the Police and Singapore’s anti-money laundering framework. The queries cover a wide range of issues across several Ministries. The Ministry of Home Affairs, together with various other Ministries, will respond to the queries comprehensively in a Ministerial Statement in October.