# AML / CFT

https://www.uniwebpay.com/glossary/aml-cft/

*Last updated: 2026-08-03*

Anti-money laundering and countering the financing of terrorism: the obligations a licensed financial institution carries to know who its customers are, to understand what their business does, and to monitor for activity that does not fit. They are the reason onboarding asks questions that feel unrelated to accepting a card, and they are not optional for any licensed provider.

## Why it matters to a merchant

Understanding that these are obligations rather than preferences changes how onboarding feels. A provider cannot waive them for a good customer, cannot shorten them because you are in a hurry, and should be treated with suspicion if it offers to. The one thing genuinely in a merchant's control is preparation — the questions are predictable, and the documents that answer them can be ready before anyone asks.

## Related terms

*Licensing and regulation in Singapore*

- [MAS (Monetary Authority of Singapore)](https://www.uniwebpay.com/glossary/mas/)
- [Payment Services Act 2019](https://www.uniwebpay.com/glossary/psa-2019/)
- [MPI (Major Payment Institution)](https://www.uniwebpay.com/glossary/mpi/)
- [SPI (Standard Payment Institution)](https://www.uniwebpay.com/glossary/spi/)
- [MAS Financial Institutions Directory](https://www.uniwebpay.com/glossary/fid/)
- [KYC / KYB](https://www.uniwebpay.com/glossary/kyc-kyb/)
- [Beneficial owner](https://www.uniwebpay.com/glossary/beneficial-owner/)
- [PCI DSS](https://www.uniwebpay.com/glossary/pci-dss/)
- [Merchant Acquisition (licensed activity)](https://www.uniwebpay.com/glossary/merchant-acquisition/)
- [UEN (Unique Entity Number)](https://www.uniwebpay.com/glossary/uen/)
- [ACRA](https://www.uniwebpay.com/glossary/acra/)
- [PDPA (Personal Data Protection Act)](https://www.uniwebpay.com/glossary/pdpa/)

- [All 74 terms](https://www.uniwebpay.com/glossary/)

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