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Overview

This course aims to equip participants with specialised knowledge and practical tools to identify, assess, and manage anti-money laundering (AML) and financial crime risks associated with regulated activities relating to blockchain, cryptocurrencies, digital tokens, and distributed ledger technologies (DLT). The course also explores the evolving definitions, typologies, red flags, case studies of crypto misuse and financial crime, while gaining insight into the global and Singaporean AML/CFT regulatory regimes, including FATF Recommendations, MAS Notices, and the Payment Services Act.

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
  • 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 Blockchain, AML/CFT Standards and Risk Assessment

  • Overview of course objectives, structure, and learning outcomes
  • Blockchain & Digital Assets Primer
    • Explain how blockchain, tokens, consensus mechanisms work.
    • Differentiate cryptocurrencies, digital assets, NFTs, stablecoins, CBDCs.
    • Identify key blockchain infrastructure types, use cases and functions.
  • Global Standards & FATF Guidance
    • Understand FATF Rec. 10, 11, 12, 15, 16 (Travel Rule).
    • Compare global AML/CFT laws (MAS, EU MiCA, HKMA).
  • AML/CFT Risk Assessment Frameworks
    • Identify AML/CFT risks pertaining to the digital asset activities from customer onboarding to transaction monitoring.
    • Apply the RBA (risk-based approach) to monitoring controls and mitigate the AML/CFT risks.
    • Develop enterprise wide risk assessments (EWRA) in assessing the VASP’s risk exposure by risk factors – customer, product/service, delivery channel, geography, source of wealth (SOW), source of funds (SOF), and nature of business and transaction.
  • MAS AML / CFT for DPTs
    • Interpret MAS Notices PSN02, PSR and PSG03, Guidelines & Circulars.
    • Apply MAS expectations on onboarding and monitoring.
  • MAS-ABS SOW & Crypto Nexus
    • MAS-ABS guidance for clients with crypto nexus (SOW collaboration).

Day 2: Criminal Typologies, Red Flags and Transaction Monitoring

  • ML/TF Risks & Misuse in Blockchain Ecosystems
    • Identify misuse patterns (e.g., mixers, tumblers, DeFi exploits).
      • Understand criminal typologies: fraud, scams, ransomware, TF, Proliferation Financing.
    • Analyse red flags for DPT transfers that involve sanction or high-risk wallet and smart contract vulnerabilities.
    • Evaluate digital asset market manipulation (wash trades, rug pulls).
  • Investor Protection Measures – Internal
    • Measures to protect customers trading activities and interest.
  • EDD for Blockchain Clients
    • Identify triggers/alerts that necessitate conducting Enhanced Customer Due Diligence (EDD).
    • Recognise UBO structures, shell entities, complex legal structures.
  • Typologies & Red Flags in Practice – TBML, Sanctions, PF, TF, Scams, Fraud
    • Singapore National Risk Assessment – Red flags and typologies for:
      • Trade-based Money Laundering (TBML)
      • Sanctions violations
      • Proliferation financing (PF)
      • Terrorist financing (TF)
      • Scams and fraud
  • Transaction Monitoring & STRs
    • Build crypto red flag rules.
    • Understand alert triage and escalation process.

Day 3: Blockchain Forensics, Travel Rule Compliance and Case Simulations

  • Blockchain Forensics & OSINT
    • 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.
  • Travel Rule Compliance
    • Understand Travel Rule requirements.
    • Apply Travel Rule data collection and transmission standards.
  • Crypto Abuse & Fraud – External
    • Investigate phishing, scams, social engineering, fake token issuance, mule accounts, Ponzi schemes.
    • Apply forensic and KYC techniques.
  • Summative Immersive Simulation: Crypto Client STR
    • Apply AML/CFT workflow: alert review and application of EDD, investigation, STR filing (if required).
  • 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

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