Singapore

Banking Secrecy: Banking (Amendment) Act 2001

Lucien Wong Tel +65 420 7702. Francis Mok Tel +65 420 7786. lucien.wong@allenandgledhill.com. francis.mok@allenandgledhill.com. Linklaters Allen & Gledhill, Singapore

Introduction

Licensed banks in Singapore are subject to statutory obligations of banking secrecy, as set out in Section 47 of the Banking Act, Chapter 19 of Singapore (the “Banking Act”).