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Overview

This course aims to equip participants with practical knowledge and hands-on skills in Know Your Customer / Customer Due Diligence (KYC/CDD), Enhanced Due Diligence (EDD), and Customer Acceptance Policy (CAP) measures in blockchain, cryptocurrency, and digital asset environments.

The course integrates Singapore’s Monetary Authority of Singapore (MAS) and Association of Banks in Singapore (ABS) – AML/CFT Industry Partnership (ACIP) Guidance on AML/CFT for name screening, customer due diligence, and source of wealth (sow) for clients with crypto nexus, alongside the Financial Action Task Force (FATF) standards and best practices.

Participants will learn to identify and assess customers and parties, requiring due diligence, implement risk-based onboarding and monitoring controls, apply regulatory frameworks to operational processes, conduct enhanced checks for high-risk clients, and investigate suspicious activity for accurate Suspicious Transaction Report (STR) filing.

Award of certificate

Participants who successfully pass the final Multiple Choice Question (MCQ) quiz will be awarded a Certificate of Completion (CoC), jointly awarded by the Blockchain Association Singapore (BAS) and our Singapore University Partner. This reflects both the academic rigour of the programme and its strong alignment with current industry relevance and expectations.

Course details

Course date: November 2025
Duration: 3 days

Who should attend

  • Early-career professionals
  • Professionals transitioning to blockchain roles
  • Relationship management and business development managers
  • Industry professionals (finance, risk, AML/CFT and compliance)
  • Government and public sector employees (regulators, auditors, and policymakers)
  • Tech enthusiasts and aspiring developers

Prerequisites

  • Minimum GCE ‘O’ or ‘A’ levels, Polytechnic diploma or their equivalent

Programme outline (Learning objectives)

Day 1: Foundations of KYC/CDD in Blockchain & Digital Assets

  • Overview of course objectives, structure, and learning outcomes
  • Blockchain & Digital Asset Ecosystem for Compliance
    • Explain blockchain fundamentals, consensus mechanisms, and token types.
    • Distinguish between different types of digital assets, including cryptocurrencies, stablecoins, NFTs, CBDCs.
    • Identify regulated vs unregulated activities conducted by service providers and relative pros and cons (adopting FATF standards)
    • Understand wallet custody models (hot vs cold) and KYC/CDD implications.
  • Global Standards & FATF Guidance
    • Understand FATF Rec. 10, 11, 12, 15, 16 (Travel Rule)
    • Review MAS guidance for Digital Payment Token (DPT) Service Providers and MAS-ABS ACIP crypto nexus clients, source of wealth (SOW), countering proliferation financing (PF), Singapore Virtual Assets Risk Assessment (2024) etc.
    • Compare MAS Notices PSN02, PSG03, PSN06, etc. with overseas frameworks.
    • Identify regulatory triggers for CDD/EDD.
  • Parties Requiring Due Diligence
    • Identify individuals & corporate customers, intermediaries, counterparties, UBOs.
    • Map each party to relevant due diligence type – Know Your Business (KYB), Know Your Intermediary (KYI), Know Your Transaction (KYT), etc.
    • Link due diligence scope to client/product/geography/transaction risks. mitigate the AML/CFT risks
    • Develop enterprise-wide risk assessments (EWRA) in assessing the Virtual Assets Service Provider’s (VASP) risk exposure by risk factors – customer, product/service, delivery channel, geography, source of wealth (SOW), source of funds (SOF), and nature of business and transactions
  • MAS-ABS / ACIP Client with Crypto Nexus & SOW Collaboration
    • Explain MAS-Association of Banks Singapore (ABS) / AML/CFT Industry Partnership (ACIP) expectations for crypto nexus clients and source of wealth (SOW).
    • Apply KYC/CDD to complex structures and layered relationships.
    • Incorporate LYC/CDD into onboarding and review workflows.
    • Identify SOW triggers.
    • Verify SOW for blockchain-derived income.
    • Detect red flags in documents and transaction flows.

Day 2: Advanced Due Diligence: KYB, KYI, EDD & Transaction Monitoring

  • Know Your Business (KYB) – Corporate Due Diligence Application
    • Conduct registry checks and verify UBOs.
    • Assess legitimacy of corporate activities.
    • Identify shell/shelf companies.
    • Apply KYB in crypto nexus cases.
  • Know Your Intermediary (KYI) – Intermediary Risk Assessment & Monitoring
    • Identify intermediaries in blockchain transactions.
    • Assess AML/CFT adequacy.
    • Apply KYI / CDD for intermediaries.
    • Design monitoring schedules.
  • RBA in CDD & EDD for Blockchain Clients
    • Apply risk-based approach (RBA) in CDD for individuals and corporates.
    • Identify EDD triggers (PEP, sanctions, high-risk jurisdictions).
    • Conduct EDD and SOW/SOF verification for crypto-related wealth.
    • Document, escalate and file STR appropriately.
  • Know Your Transaction (KYT) – Transaction Monitoring & Red Flags Integration
    • Set KYT rules based on risk profile.
    • Link on-chain analytics to KYC/CDD.
    • Identify anomalies and escalate.
    • Prepare transaction review memos.
  • Customer Acceptance Policy (CAP) in Practice
    • Translate risk appetite into customer risk rating.
    • Apply CAP to onboarding scenarios.
    • Align CAP with findings from other due diligence measures (EDD, SOW / SOF).

Day 3: Forensics, Integrated Simulation & Compliance

  • Blockchain Forensics for Due Diligence
    • Trace transactions using forensic tools (e.g., Chainalysis, TRM) or public free tools.
    • Use Open-Source Intelligence Tools (OSINT) (Blockchain Explorer) and techniques to investigate and link wallet addresses to potential identities.
    • Correlate on-chain activity with CDD/EDD findings.
  • Integrated Simulation – Part 1
    • Onboard diverse client types.
    • Apply MAS-ABS LYC/CDD & SOW requirements.
    • Draft CAP/CIP entries.
  • Integrated Simulation – Part 2
    • Apply KYT monitoring.
    • Conduct EDD for high-risk cases.
    • Draft and present STRs.
  • Final Group Presentations
    • Present findings and defend compliance recommendations
  • Summary and Q&A
  • Assessment Admin

Mode of assessment

  • Online Quiz – Multiple-Choice Questions (Including scenario-based questions)

Course fee and funding

Course fee to be advised

      Full course fee inclusive of prevailing GST.                                    You pay
     S$3,270.00           

      SkillsFuture Course Fee subsidy (70%)

  • For Singapore Citizens < 40 years old
  • For Permanent Residents
      You pay
      S$981.00

      Mid-Career Enhanced Subsidy (90%)

  • For Singapore Citizens ≥ 40 years old
      You pay
      S$381.00

      Enhanced Training Support for SMEs (90%)

  • For SME – Sponsored employees
      You pay
      S$381.00

The above module fee payable is inclusive of 9% GST.

This course is not eligible for the S$4,000 credit under SkillsFuture Credit (Mid-Career) top-up scheme.

Instructor

Thomas Wan

Adjunct Fellow, SUTD Academy
General Manager, Blockchain Association Singapore (BAS)

Thomas Wan is a distinguished expert in banking regulatory compliance, financial crime and risk management, bringing over 18 years of leadership experience across global banks in Singapore. Before transitioning into the training and education sector, Thomas served as Country Head of Compliance at ICBC Singapore, a Qualifying Full Bank, where he led the development and oversight of complex compliance frameworks aligned with MAS regulations and global regulatory standards.

In his current role at the Blockchain Association of Singapore (BAS), Thomas leads the initiatives to elevate education and professional standards across the blockchain, AI, and emerging new technology sectors, driving greater industry maturity, regulatory readiness, and talent development.

Industry Speaker

To be advised

Nor Azman Hamid

General Counsel / Chief Compliance Officer – Upbit APAC
Regulatory Subcommittee of the Blockchain Association Singapore (BAS)

Azman is an international legal and regulatory counsel with more than 30 years of experience in Nor Azman Hamid is a seasoned international legal and regulatory professional with over 30 years of experience across leading law firms and financial institutions, including ABN AMRO and UBS. He brings deep expertise in financial regulation, compliance, and fintech innovation. 

Azman played a pivotal role in co-founding a European robo-advisory fintech startup, which he successfully led to exit. Since 2018, he has been deeply involved in the legal and regulatory dimensions of the digital asset space, including being a key contributor to the development and launch of VerifyVASP from its inception. 

A founding member of the Regulatory Subcommittee of the Blockchain Association of Singapore (BAS), Azman is an active voice in the industry, frequently participating in panel discussions and forums on evolving regulatory frameworks and digital finance policy matters.

Policies

To be advised and confirmed

SSG funding terms and conditions

 

Use of Personal Details

In consideration of the subsidy provided by SkillsFuture Singapore Agency (“SSG”) through the SUTD Academy for the Course,

I consent to:

The collection, use and disclosure to relevant third parties of my personal data by the SUTD Academy including but not limited to personal particulars, attendance records, assessment/performance records, for the following purposes:

  1. Reporting of national statistics and conducting of holistic continuing education training research and analysis;
  2. Facilitate the conduct of the relevant surveys and audits in relation to the Course;
  3. General administration of the Course including but not limited to processing of the subsidy provided by SSG;
  4. Publicity and marketing of the Course or other Courses to be provided by SSG or SUTD Academy; and
  5. SSG or its Appointed Auditors or Nominated Representatives to directly contact Course Participant to obtain information deemed necessary for the purposes of conducting effectiveness survey or audits in relation to the Course.
I agree to:
  1. Attend and complete all lectures, class exercises, workshops and assessments;
  2. Complete the Course feedback at the end of the Course;
  3. Complete the post Course survey sent about 3 to 6 months after class attendance; and
  4. Sign up for a personal email account.
 
SUTD privacy statement

For more information on SUTD’s privacy statement, please visit here.

SUTD terms and conditions

Methods of payment

Cancellation & refund policy

  1. If a written notification is sent to sutd_academy@sutd.edu.sg within 24 hours after course registration deadline there will be no cancellation charges. A full refund will be made.
  2. No refund is provided if written notification is more than 24 hours after course registration deadline. SUTD Academy reserves the rights to collect the full fee amount from the participant.

Replacement policy

Companies may replace participants who have signed up for the course by giving a 3-working day notice before the course commencement date to sutd_academy@sutd.edu.sg. Terms and conditions apply.

Registration policy

  1. Course may be cancelled due to insufficient participants. SUTD Academy will not be responsible or liable in any way for any claims, damages, losses, expenses, costs or liabilities whatsoever (including, without limitation, any direct or indirect damages for loss of profits, business interruption or loss of information) resulting or arising directly or indirectly from any course cancellation.
  2. Course enrolment is based on a first-come, first-served basis.
  3. SUTD Academy reserves the right to change or cancel any course or instructor due to unforeseen circumstances.

Types of funding

Funding under Mid-Career Enhanced Subsidy (“MCES”)

  1. MCES is an enhanced Subsidy to encourage mid-career individuals to upskill and reskill, thereby helping them to remain competitive and resilient in the job market. With this, all Singaporeans aged 40 and above will receive higher subsidies of up to 90% course fee subsidy for SSG-funded certifiable courses.
  2. Individuals/employers are not required to submit an application for the MCES. Those pursuing SSG-funded programmes will be charged the appropriate subsidised fees by SUTD Academy if they are eligible MCES. Individuals/employers will only need to pay the nett fee (full course fee after SSG’s grant). For more info, please visit SkillsFuture website at https://www.skillsfuture.gov.sg/enhancedsubsidy

Funding under Enhanced Training Support for SMEs (“ETSS”)

  1. ETSS is an enhanced funding to enable SMEs to send their employees for training.
  2. SMEs will enjoy subsidies of up to 90% of the course fees when they sponsor their employees for SSG-funded certifiable courses.
  3. In addition to higher course fee funding, SMEs can also claim absentee payroll funding of 80% of basic hourly salary at a higher cap of $7.50 per hour. SMEs may apply for the absentee payroll via the SkillsConnect system.
  4. To qualify, SMEs must meet all of the following criteria:
    – Organisation must be registered or incorporated in Singapore
    – Employment size of not more than 200 or with annual sales turnover of not more than $100 million
    – Trainees must be hired in accordance with the Employment Act and fully sponsored by their employers for the course
    – Trainees must be Singapore Citizens or Singapore Permanent Residents. For more info, please visit SSG website at https://www.ssg.gov.sg/programmes-and-initiatives/funding/enhanced-training-support-for-smes1.html

Funding under Union Training Assistance Programme (“UTAP”)

UTAP is a training benefit for NTUC members to defray their cost of training. This benefit is to encourage more union members to go for skills upgrading.

NTUC members enjoy 50% unfunded course fee support for up to $250 each year when you sign up for courses supported under UTAP (Union Training Assistance Programme).

For more info, please visit https://e2i.com.sg/individuals/ntuc-education-and-training-fund/.

Funding under Post-Secondary Education Account (“PSEA”)

The Post-Secondary Education Account (PSEA) is part of the Post-Secondary Education Scheme to help pay for the post-secondary education of Singaporeans.

This is part of the Government’s efforts to encourage every Singaporean to complete their post-secondary education. It also underscores the Government’s commitment to support families in investing in the future education of their children and to prepare them for the economy of the future. PSEA is not a bank account.

It is administered by the Ministry of Education (MOE) and is opened automatically for all eligible Singaporeans.

Account holders can use their PSEA funds to pay for their own or their siblings’ approved fees and charges for approved programs conducted by approved institutions.

However, you will have to check your eligibility and balance by contacting MOE first.

Contact MOE at (65) 6260 0777

E-mail to MOE at contact@moe.edu.sg

Click here for MOE website.

Register your interest