MAS taps EY to screen family office tax incentive applications

EY will check family offices for links to money laundering, terrorism financing, and other offences.

The Monetary Authority of Singapore (MAS) has appointed Ernst & Young Advisory Pte. Ltd. (EY) as one of six screening service providers (SSPs) to support the application review process for family office tax incentives.

Starting 1 October, all family office incentive applications to MAS must include a screening report from an authorized SSP, which will check for links to money laundering, terrorism financing, and other serious offences.

As an SSP, EY will leverage the EY Screening Hub, a platform with an advanced screening engine that integrates with global watchlists, databases, and media collections to enable precise name screening.