Money laundering and the financing of terrorism are international concerns. Criminals are known to launder proceeds of crime to legitimise their ill-gotten gains and fund terrorism. Governments worldwide have responded by stepping up their efforts to counter acts of terrorism and the financing of terrorism.
Suspicious Transaction Reports (STR) play an important role in combatting money laundering and terrorism financing. A high level of suspicious transaction reporting is an internationally accepted indicator of the existence of a strong Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) regime.
Since the establishment of the Suspicious Transaction Reporting Office (STRO) in January 2000, the number of STRs received by the STRO has risen steadily year on year. These STRs have been helpful in the detection of a number of significant cases.
Reporting Requirements
In the course of your trade, profession, business or employment, if you know or have reasonable grounds to suspect that any property may be connected to a criminal activity, you are required to file a Suspicious Transaction Report (STR) to the Suspicious Transaction Reporting Office (STRO). Failure to file a STR may constitute a criminal offence.
This reporting requirement is set out in Section 45 of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 (also commonly known as CDSA).
Every person in Singapore and every Singapore citizen outside Singapore has a duty to provide information to the Police on property and financial transactions belonging to terrorist and acts of terrorism financing. This legal obligation is set out in Sections 8 and 10 of the Terrorism (Suppression of Financing) Act 2002 (TSOFA). Failure to provide information may constitute a criminal offence.
The disclosure of terrorism financing information can be made to the Suspicious Transaction Reporting Office (STRO) in a STR.
How to file
You must file a Suspicious Transaction Report (STR) electronically via STRO Online Notices And Reporting platform (SONAR).
| Download Form and Instruction Guide |
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| Form |
STR Form (file electronically via SONAR) |
| Form Guide | Guide to fill up STR Form |
The regulators for a number of reporting industries require entities to comply with the Anti Money Laundering and Counter Financing of Terrorism (AML/CFT) legislation and regulations. They have requirements on customer due diligence, record keeping, internal controls, training and suspicious transaction reporting and have issued industry-specific guidelines and indicators on the detection and reporting of STRs as follows:
| Reporting Industry | Indicators | Directives and Guidelines |
| Approved CIS Trustees |
Indicators provided by Regulator |
MAS Notice SFA13-NO1/ Guidelines to MAS Notice SFA13-NO1 Website: https://www.mas.gov.sg |
| Bank |
Indicators provided by Regulator |
For Commercial Banks: MAS Notice 626 / Guidelines to MAS Notice 626 Website: https://www.mas.gov.sg For Merchant Banks: MAS Notice 1014 / Guidelines to MAS Notice 1014 Website: https://www.mas.gov.sg |
| Casino Operator |
Available on SONAR |
Casino Control (Prevention of Money Laundering and Terrorism Financing) Regulations 2009 |
| Direct Life Insurance |
Indicators provided by Regulator |
MAS Notice 314/ Guidelines to MAS Notice 314 Website: https://www.mas.gov.sg |
| Estate Agent/Developer (Real Estate) |
Indicators provided by Regulator |
For Estate Agent: Website: https://www.cea.gov.sg For Developer: Website: https://www.ura.gov.sg |
| Filing Agent/Qualified Individual (Corporate Service Providers) |
Indicators provided by Regulator |
Accounting and Corporate Regulatory Authority's directives on compliance with AML/CFT laws, regulations and guidelines. Website: https://www.acra.gov.sg |
| Finance Company |
Indicators provided by Regulator |
MAS Notice 824 / Guidelines to MAS Notice 824 Website: https://www.mas.gov.sg |
| Financial Advisor |
Indicators provided by Regulator |
MAS Notice FAA-N06 / Guidelines to MAS Notice FAA-N06 Website: https://www.mas.gov.sg |
| Law Practice/Legal Practitioner |
Indicators provided by Regulator |
Website: https://www.lawsociety.org.sg |
| Licensed Trust Company/Trust Business |
Indicators provided by Regulator |
MAS Notice TCA-N03 / Guidelines to MAS Notice TCA-N03 Website: https://www.mas.gov.sg |
| Moneylender |
Indicators provided by Regulator |
Licence Conditions and AML/CFT laws Website: https://www.mlaw.gov.sg; see section, “Information for Moneylenders”. |
| Money Changing and Remittance Business |
Indicators provided by Regulator |
MAS Notice 3001 / Guidelines to MAS Notice 3001 Website: https://www.mas.gov.sg |
| Non-Bank Credit Card or Charge Card |
Indicators provided by Regulator |
MAS Notice 626A / Guidelines to MAS Notice 626A Website: https://www.mas.gov.sg |
| Non-profit/Not-for-profit Organisation |
Indicators provided by Regulator |
For Registered Charity: Website: https://www.charities.gov.sg/ For Registered Society: Website: https://www.ros.mha.gov.sg For Mosque: Majlis Ugama Islam Singapura policy documents on compliance with AML/CFT laws, regulations and guidelines |
| Pawnbroker |
Indicators provided by Regulator |
Licence Conditions and AML/CFT laws Website: https://www.mlaw.gov.sg; see section, “Information for Pawnbrokers”. |
| Payment and Settlement System |
Indicators provided by Regulator |
MAS Notice PSOA-N02 / Guidelines to MAS Notice PSOA-N02 Website: https://www.mas.gov.sg |
| Precious Stones and Metals Dealer (PSMD) |
Indicators provided by Regulator |
Website: https://acd.mlaw.gov.sg |
| Professional Accountant / Auditor |
Indicators provided by Regulator |
Institute of Singapore Chartered Accountants' (ISCA) directives on compliance with AML/CFT laws, regulations and guidelines. Website: https://www.isca.org.sg |
| Securities, Futures and Fund Management |
Indicators provided by Regulator |
For Capital Market Intermediaries: MAS Notice SFA04-N02 / Guidelines to MAS Notice SFA04-N02 For Depositories: MAS Notice SFA03AA-N01 / Guidelines to MAS Notice SFA03AA-N01 Website: https://www.mas.gov.sg |
| Trade (Zero GST Rated licensed Warehouses) |
Indicators provided by Regulator |
Singapore Customs' directives |
| Digital Payment Token Services |
Indicators provided by Regulator | MAS Notice PSN02 / Guidelines to MAS Notice PSN02 Website: https://www.mas.gov.sg/ |