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Section 17 of the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019 (PSPM Act) and section 74A of the Pawnbrokers Act 2015 set out the cash transaction reporting regime for cash transactions in precious stone, precious metals, precious products and asset-backed tokens.

Regulated Dealers: If you are a regulated dealer under the PSPM Act, you are required to submit a Cash Transaction Report (CTR) to the Suspicious Transaction Reporting Office (STRO) and a copy separately to the Anti-Money Laundering/ Countering the Financing of Terrorism Division (ACD) when:

• You sell any precious stone(s), precious metal(s), precious product(s) (PSPM) or asset-backed token(s) to a customer and receive cash or cash equivalent exceeding SGD 20,000 as payment;
• You conduct two or more sales of any PSPM or asset-backed token(s) in a single day to the same customer, or to customers whom you know act on behalf of the same person and receive cash or cash equivalent in total exceeding SGD 20,000 as payment;
• You (as a second-hand goods dealer) purchase any PSPM from a customer (who is not a regulated dealer) and pay cash or cash equivalent exceeding SGD 20,000;
• You (as a second-hand goods dealer) make two or more purchases of any PSPM in a single day, from the same customer, or customers whom you know are acting on behalf of the same person (none of whom are regulated dealers) and pay cash or cash equivalent exceeding SGD 20,000;
• You redeem an asset-backed token(s) from a customer (who is not a regulated dealer) for cash or cash equivalent in total exceeding SGD 20,000; or
• You conduct two or more redemptions of any asset-backed token(s) in a single day from the same customer, or customers whom you know act on behalf of the same person (none of whom are regulated dealers), for cash or cash equivalent exceeding SGD 20,000.

Any regulated dealer who fails to comply with the above requirement is guilty of an offence and will be liable on conviction to a fine not exceeding SGD 20,000 and/or imprisonment for a term of up to two years.

For more information, please refer to ACD website.

Pawnbrokers: If you are a pawnbroker under the Pawnbrokers Act, you are required to submit a Cash Transaction Report (CTR) to the Suspicious Transaction Reporting Office (STRO) and a copy separately to the Registry of Pawnbrokers (ROP) when:

• You sell any PSPM to a customer and receive cash or cash equivalent exceeding SGD 20,000 as payment; or
• You conduct two or more sales of any PSPM in a single day to the same customer, or to customers whom you know act on behalf of the same person and receive cash or cash equivalent in total exceeding SGD 20,000 as payment.

Any pawnbroker who fails to comply with the above requirement is guilty of an offence and will be liable on conviction to a fine not exceeding SGD 20,000 and/or imprisonment for a term of up to two years.

For more information, please refer to ROP website.

You can file a Cash Transaction Report (CTR) (Form NP 784) electronically via STRO Online Notices And Reporting platform (SONAR). You are also required to file a copy with ACD. When you e-file through SONAR, your CTR will automatically be forwarded to ACD on your behalf.

All completed CTRs must be submitted within 15 business days (Mondays – Fridays, excluding Saturdays, Sundays and Public Holidays) after the date of the transaction.

¹To avoid encountering the following error message, please make sure to download the original Form NP 784 and open it using Adobe Acrobat Reader DC.

² A CorpPass account is required in order to file a Form NP 784 electronically on SONAR. If you do not have a CorpPass account:

• Download and complete the form in softcopy and print it out.
• Fields that are greyed out should be completed/handwritten.
• The form should be signed.
• Mail the original signed copy to STRO and a copy to the ACD (if you are a regulated dealer) or ROP (if you are a pawnbroker). The addresses are provided below.

It is an offence under section 27 of the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019 and section 70 of the Pawnbrokers Act 2015 to provide any information that is materially false or misleading or to omit any information, knowing or having reason to believe that such omission will create a false or misleading impression.

A casino is required to submit a Cash Transaction Report (CTR) to the Suspicious Transaction Reporting Office (STRO), before the end of the applicable reporting period, for:

• Every cash transaction with a patron involving either cash in or cash out of SGD 10,000 or more in a single transaction; or
• Multiple cash transactions which the casino operator knows are entered into by or on behalf of a patron, the aggregate of which is either cash in or cash out of SGD 10,000 or more in any gaming day.

Any casino operator which fails to comply with the above requirement is guilty of an offence and will be liable on conviction to a fine not exceeding SGD 20,000.