ACRA-appointed Reviewers examine how CSPs manage key compliance requirements in practice—not simply whether policies exist on paper.
The review covers eight areas, including ML, PF and TF risk assessments, internal policies and controls, customer verification, beneficial ownership information, suspicious transaction reporting, internal communication and staff training.
Understanding what Reviewers will examine can help CSPs identify gaps early, organise supporting evidence and approach the compliance review with greater confidence.
ACRA appoints private sector compliance firms (“Reviewers”) to conduct compliance reviews, following which CSPs will each receive a detailed report and may undergo follow-up reviews based on the Reviewer’s findings.
Based on the Reviewer’s findings, ACRA may intervene directly or conduct its own review by contacting CSPs in writing, conducting on-site inspections at their premises, or interviewing relevant staff who participated in the review.
ACRA appoints private sector compliance firms (“Reviewers”) to conduct reviews. The Reviewer will examine these eight areas:
| Review Area |
|---|
|
1.
Risk assessment methods for: ML/PF/TF
|
|
2.
Internal policies, procedures, and controls （IPPC）
|
|
3.
How you verify customer identities
and conduct enhanced checks
|
|
4.
How you collect
beneficial ownership information
|
|
5.
How well you provide
beneficial ownership information to ACRA
|
|
6.
How you report
suspicious transactions
|
|
7.
How you share
policies, procedures, and controls with staff
|
|
8.
Staff training programme, including scope and
frequency
|
Below are practical resources designed to support CSPs at different stages of compliance readiness.
Each resource is available on a dedicated page for further details.
A short, confidential discussion with a compliance consultant to:
Understand your current compliance setup
Identify potential review gaps
Receive practical, risk-based improvement suggestions
A self-assessment tool to help CSPs:
Review current compliance posture
Identify weaknesses before a formal review
Improve internal alignment and awareness
A structured IPPC template designed to help CSPs:
Establish policies aligned with ACRA compliance expectations
Address the highest-weighted review area in compliance assessments
Translate regulatory requirements into practical operational guidance
A digital platform designed to help CSPs:
Execute CDD processes in a compliant and consistent manner
Maintain clear audit trails and evidence-linked records
Improve operational efficiency without compromising regulatory expectations
See how AlgoCandy helps Singapore CSPs reduce compliance risks, improve efficiency, and deliver a better onboarding experience.
