s 12B Customer due diligence measures, additional measures and measures relating to targeted financial sanctions
12B.—(1) A licensed housing developer must perform such customer due diligence measures as may be prescribed at such times as may be prescribed. (2) A licensed housing developer must perform —(a) the prescribed measures relating to targeted financial sanctions against terrorism, terrorism financing and proliferation financing; and[Act 15 of 2025 wef 01/07/2025] (b) any prescribed additional measures which are necessary or expedient to give effect to any relevant FATF Recommendation. (3) A licensed housing developer that contravenes subsection (1) or (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000.[Act 54 of 2018 wef 28/06/2023]