Specialist Staff Departments

COMMERCIAL AFFAIRS DEPARTMENT

Commercial Affairs Department

The Commercial Affairs Department (CAD) is the principal white-collar crime investigation agency in Singapore. We investigate into a spectrum of commercial and financial crimes and safeguard Singapore’s integrity as a world-class financial and commercial centre through vigilant and professional enforcement of the laws.

Our Mission

The mission of CAD is to prevent, deter and detect financial crime.

Our Shared Vision

Our vision is to make Singapore the safest and most trusted place for business and finance.

Organisational Structure

 

 

 

The Commercial Affairs Department has three groups, namely the Enforcement Group, the Financial Investigation Group and the Intelligence and Admin Group.

 

Enforcement Group

The Investment Fraud Division investigates complex investment and pyramid selling schemes for suspected fraud and breaches of the Securities and Futures Act and the Multi-Level Marketing and Pyramid Selling (Prohibition) Act that may arise from the operation of such schemes.

The Securities Fraud Division investigates into capital market misconduct such as insider trading and share manipulation, as well as other breaches of the Securities and Futures Act. We also investigate fraud committed by the board and senior management of public listed companies, acting in their official capacity.

The Private Institutional Fraud Division investigates fraud in the business sector committed by officers and managers of business entities, and professionals such as lawyers, public accountants and bankrupts. We also investigate into fraudulent timeshare schemes.

The Public Institutional Fraud Division investigates into fraud in the public sector involving government agencies, charities, societies and other public organisations.

 

Financial Investigation Group

The Financial Investigation Division I deals with money laundering and other offences under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (CDSA). We also investigate complex cases of fraud involving employees of financial institutions.

The Financial Investigation Division II investigates into possible cases of terrorism financing under the Terrorism (Suppression of Financing) Act (TSOFA). We also facilitate cooperation between CAD and its foreign counterparts to combat transnational crime including money laundering.

The Transnational Fraud Division investigates money laundering offences involving transnational scams, domestic wire transfer fraud, transnational scams affecting the general public such as lottery scams, phone impersonation scams and credit-for-sex scams. Since 2017, a Transnational Commercial Crime Task Force (TCTF) was also formed, with investigators from CAD and Land Divisions, to investigate serial transnational scams such as Internet Love Scams and Facebook friend impersonation scams.

The Specialised Commercial Crime Division investigates the investigation of payment systems fraud such as credit card fraud, ATM fraud involving counterfeit currencies and fraudulent motor insurance claims. A Task Force, E-FECT, has been set up in 2018 to look into e-Commerce scams.

The Policy & Operations Division charts operational strategies and development plans to combat commercial and financial crimes. We promulgate doctrines, operating guidelines and procedures on all investigative operational matters for CAD Divisions and the Commercial Crime Units in the Police Land Divisions.

 

Intelligence & Admin Group

The Corporate Services Group administers CAD’s finance, manpower, administration and corporate planning functions.

The Intelligence Division provides field intelligence support to the enforcement arms of CAD. The Division works with local intelligence agencies and overseas law enforcement agencies to exchange and gather information to tackle transnational commercial crimes.

The Suspicious Transaction Reporting Office (STRO), a Financial Intelligence Unit, is the central agency in Singapore for receiving, analysing and disseminating Suspicious Transaction Reports (STRs), Cash Movement Reports (CMRs) and Cash Transaction Reports (CTRs). We turn the data in these reports into financial intelligence to detect money laundering, terrorism financing and other criminal offences.

We engage the financial and business community, including industry associations, to raise the usefulness of data of reports filed by them. We also engage the domestic law enforcement agencies to increase their use of financial intelligence to fight crime. STRO is a member of the Egmont Group of Financial Intelligence Units (FIUs) and we have collaborations with the international network of foreign FIUs to combat crime.

Financial Intelligence

Statistics on STRs, CMRs and CTRs received by STRO and the usage of financial intelligence.

Community Partnership

STRO’s engagements with business community and domestic law enforcement agencies.

International Cooperation

STRO’s activities involving our foreign counterparts and Egmont Group of FIUs.


AML/CFT

Overview of Singapore's Anti-Money Laundering/Counter-Financing of Terrorism (AML/CFT) Framework

Money laundering (ML) is the process where criminals introduce their criminal proceeds into the world's financial system to disguise the illegal origin. The proceeds may be from drug trafficking or other serious crimes. The laundering of tainted funds allows the criminals to use their "dirty money" without fear of detection.

Closely linked to money laundering is terrorism financing (TF). In terrorism financing, funds may originate from legitimate or criminal sources. However, the techniques used to conceal the sources and uses of the terrorists' funds are similar to ML.

Singapore is keenly aware of the significant harm that ML and TF can bring. As a major financial centre, Singapore has put in place measures to ensure that we keep out money launderers and terrorism financiers.

  • Robust AML/CFT legislation
  • Close Partnership with the industry
  • Strict enforcement action and ongoing supervision
  • Active International Cooperation

These measures form Singapore's AML/CFT framework. Everyone plays an important role in combating ML and TF to maintain Singapore's strong reputation as a well-regulated financial centre.

The Financial Investigation Division of CAD is the specialist AML/CFT division. It investigates ML/TF offences, including seizure and confiscation of criminal proceeds.

 

CONTACT DETAILS

Address

:

391 New Bridge Road #06-701

Police Cantonment Complex Block D

Singapore 088762

Tel

:

1800 325 0000

(+65) 6325 0000 if you are calling from overseas

Fax

:

(+65) 6223 3171



Last Updated on 08 February 2019