Section 28A — Purpose of this Part

(1)The purpose of this Part is to permit the disclosure, publication and sharing of certain information (despite any restriction against the disclosure, publication or sharing of that information imposed by law, contract or rules of professional conduct) between or amongst the persons mentioned in subsection (2), for any of the following purposes:

(a)the prevention and detection of money laundering;

(b)the prevention and detection of terrorism financing;

(c)the prevention and detection of the financing of proliferation of weapons of mass destruction.

(2)The persons mentioned in subsection (1) are any of the following:

(a)any bank in Singapore or financial institution (other than a bank), to which this Part applies;

(b)the Authority;

(c)any STRO;

(d)any person specified in the second column of Part 1 or 2 of the Third Schedule.

(3)Any information disclosed, published or shared under this Part may only be used for a purpose mentioned in subsection (1), except as otherwise provided for in this Part.[Act 19 of 2023 wef 01/04/2024]