Purpose

Precious stones and metals have commonly been used throughout the world as a conduit for terrorism and money laundering activities. Such illicit use of these assets has called for its much-needed attention from a regulatory perspective. This is particularly relevant in a financial haven such as Singapore. Accordingly, the purpose of this paper is to explore how several of the most common trading and investment activities involving precious stones and metals in Singapore are regulated.

Design/methodology/approach

The research explores activities include the trading of – the storing or custodising of – and the current available savings plans involving the use of precious stones and metals. It is based mainly on information collected from various legal sources such as books, domestic legislation and international papers issued by the Financial Action Task Force and the Asia Pacific Group on Money Laundering.

Findings

With the author’s findings, the analysis may prove useful for businesses seeking to navigate the regulatory landscape for precious stones and metals in Singapore, for investors seeking to understand the protection offered to them under the regulatory framework and for other jurisdictions seeking to evaluate and refine their existing framework for regulating precious stones and metals.

Originality/value

To the author’s knowledge, this is the first substantive academic study which analyses the regulatory landscape for the use of precious stones and metals under the Singapore Law.

中文翻译：

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新加坡宝石和金属交易商的反洗钱框架

目的

宝石和金属在世界各地普遍被用作恐怖主义和洗钱活动的渠道。从监管的角度来看，对这些资产的这种非法使用已经引起了其急需的关注。这在新加坡这样的金融天堂尤为重要。因此，本文的目的是探讨如何监管新加坡涉及宝石和金属的几种最常见的贸易和投资活动。

设计/方法/方法

该研究探索的活动包括交易——存储或保管——以及当前可用的涉及使用宝石和金属的储蓄计划。它主要基于从各种法律来源收集的信息，例如书籍、国内立法和金融行动特别工作组和亚太反洗钱组织发布的国际文件。

发现

根据作者的发现，该分析可能对寻求驾驭新加坡宝石和金属监管环境的企业、寻求了解监管框架下向他们提供的保护的投资者以及寻求评估和完善其监管的其他司法管辖区有用。监管宝石和金属的现有框架。

原创性/价值

据作者所知，这是第一次实质性的学术研究，分析了新加坡法律下宝石和金属使用的监管情况。