MAS Notice 626 on Prevention of Money Laundering & Countering Financing of Terrorism

Change in Procedures for Certain Banking Transactions

In an ongoing effort to combat money laundering and terrorist financing, the Monetary Authority of Singapore (“MAS”) has revised the requirements in MAS Notice 626 on Prevention of Money Laundering and Countering the Financing of Terrorism. The revisions require that we change the procedures for the following banking transactions:-

Account Opening

As our customer, you may be required to provide us with your personal details when you open a new account, even if you are an existing customer. You may also be required to provide or verify details when we process your banking transactions or during the Bank’s periodic review of your account(s).

Wire Transfers

With effect from 1 July 2007, certain wire transfer messages must include the following information:

1) The name of the wire transfer remitter;

2) The wire transfer remitter’s account number (or unique reference number assigned by the ordering institution where no account number exists); and

3) The wire transfer remitter’s address, or unique identification number, or date and place of birth.

Wire transfers which do not contain the requisite information cannot be accepted. We therefore seek the co-operation of our customers in facilitating our compliance with the new regulatory requirements. Please note that the Bank shall not be liable for any loss arising from any delay or rejection of wire transfer in the event the requisite information is not provided.

Change in Terms and Conditions

The Bank’s terms and conditions have been amended to expand the scope of the customer’s consent for disclosure to allow the Bank to comply with the law, regulations, guidelines, directives and/or such other requirements of regulatory authorities. Please refer to the applicable amended terms and conditions which can be obtained from www.uobgroup.com or at any of our branches.

Should you have any queries or require further information, please refer to your nearest branch, www.uobgroup.com or call 1800 2222 121 (24-hour, toll-free). You may refer to MAS website www.mas.gov.sg for more details on MAS Notice 626.

Security Alert - Trojan Horse virus in circulation
It has come to our attention that a Trojan Horse virus currently in circulation is requesting for sensitive account information such as credit card details. If you encounter a pop-up webpage requesting for such information, please do NOT respond.

Get more information now.


Important - Two-Factor Authentication (2FA) Announcement
With effect from 17 June 2007, a unique One-Time Password (OTP) will be required each time you login to UOB Personal Internet Banking. Get more information now.

With 2FA, you will be required to provide a unique One-Time Password (OTP) in addition to the current Username and Password upon login. This verifies your identity as an online banking customer and ensures that only you can gain access to your account information. This means that you can carry out your transactions more securely.

While security is of utmost importance, we understand that it is also important for you to perform your transactions with ease. With this in mind, we are offering you two options. All you need is to decide which choice best complements your lifestyle:

• SMS-OTP - via your mobile phone
  • Register or update your local mobile phone numbers at any UOB ATM
• Token-OTP - via a security device
  • Apply (PDF: 110KB) for a Token Device

Find out more about 2FA at www.uobgroup.com/2FA.

Please note that the current Terms and Conditions of UOB Personal Internet Banking Access have been revised. You will be prompted to accept the revised terms and conditions when you login to UOB Personal Internet Banking.