Commercial Affairs Department

Cross Border Cash Movement Reporting

Importance of Cross Border Cash Movement Reporting

Criminals and terrorist financiers around the world have been known to use cash couriers as a means to physically move funds across borders, to finance their illicit activities or to launder their ill-gotten gains.

Since 1 November 2007, Singapore has imposed measures for the disclosure of information on movements of physical currency and bearer negotiable instruments (or CBNI) into and out of Singapore. The initiative is to facilitate the detection, investigation and prosecution of drug trafficking offences and serious crimes. This is consistent with international Anti-Money Laundering and Counter-Financing of Terrorism standards recommended by the Financial Action Task Force (FATF), an inter-governmental body that develops and promotes such policies. Singapore is a member of the FATF.

This initiative is not a currency control measure. There is no restriction on the type or amount of cash which is moved into or out of Singapore.

Reporting Requirement

If you move physical currency and bearer negotiable instruments (or CBNI) exceeding SGD 20,000 (the prescribed amount) or its equivalent in a foreign currency into or out of Singapore, you are required to make a Cash Movement Report. If you receive CBNI exceeding the prescribed amount from outside Singapore, you are required to give a report within five business days upon receipt.

Examples of Physical Currency and Bearer Negotiable Instruments

Exemptions

  • A commercial passenger carrier is not required to give a report in respect of CBNI in the possession of its passengers.
  • A commercial goods carrier is not required to give a report if the CBNI is carried on behalf of another person and the other person has not disclosed to the carrier that the goods carried include CBNI and the carrier does not know and has no reasonable ground to believe that the goods carried on behalf of the other person include CBNI.

Cash Movement Reports by Travellers

If you enter or leave Singapore and you carry physical currency and bearer negotiable instruments (or CBNI) exceeding the prescribed amount, you will need to complete the Physical Currency and Bearer Negotiable Instruments Report (Traveller) or Form NP 727

You need to hand the Form NP 727 to any immigration officer at the Customs Red Channel on arrival in Singapore, and at the immigration counter on departure from Singapore.

Cash Movement Reports by Senders, Carriers or Recipients

If you move physical currency and bearer negotiable instruments (or CBNI) exceeding the prescribed amount into or out of Singapore, through cargo, post or other means, you will need to complete the Physical Currency and Bearer Negotiable Instruments Report (Sender, Carrier or Recipient) or the Form NP 728.

For a sender or carrier moving physical currency and bearer negotiable instruments (or CBNI) into or out of Singapore, you will need to submit the completed form to the Suspicious Transaction Reporting Office (STRO) no later than one business day (or, if the form is to be sent by post, no later than two business days) before the moving of the CBNI. If it is not reasonably practicable to do so, you should submit the form to the STRO at the first opportunity and before the cash is moved.

If you receive CBNI exceeding the prescribed amount from outside Singapore, you are required to complete the Form NP 728 and submit it to the STRO within five business days upon receipt.

Punishment

A failure to give a full and accurate report is an offence under the Act. The punishment is a fine not exceeding SGD 50,000, or an imprisonment term not exceeding 3 years, or both. The cash may also be seized if the person fails to give the report.

The Commercial Affairs Department (CAD) investigates offences relating to this initiative and takes enforcement action against persons who did not give a full and accurate report.

How to File a Cash Movement Report

You can file a Cash Movement Report (CMR) electronically or in writing:

Download Form and Instruction Guide
Form NP 727
(Travellers)
Form NP 728
(Senders, Carriers or Recipients)
Forms
(in English)
Form NP 7271
(file in writing)3
Electronic Form NP 728
(file electronically via SONAR)2
Form NP 728
(file in writing)3
Form Guide
(in English)
Guide to Fill Up Form NP 727 Guide to Fill Up Electronic Form NP 728

Brochure on Electronic Form NP 728
Guide to Fill Up Form NP 728
Forms
(in other languages)
(Chinese)
(Malay)
(Japanese)
Not applicable (Chinese)
(Malay)
Form Guide
(in other languages)
(Chinese)
(Malay)
(Japanese)

Note:
1 Form NP 727 is available for download above or at the major checkpoints (Airport Terminals, Cruise Terminals, Tuas and Woodlands Checkpoints).
2 You are encouraged to file your Form NP 728 electronically. STRO Online Notices And Reporting platform (SONAR) allows the business and financial community to file Cross Border Cash Movement Reports (Form NP 728) electronically to the Suspicious Transaction Reporting Office (STRO). Click here to e-file via SONAR.
3 If you are filing a CMR in writing, you should complete the Form NP 727 and Form NP 728 in English, sign it and send it by post or by hand to the STRO’s office at:
Head, Suspicious Transaction Reporting Office
Commercial Affairs Department
391 New Bridge Road #06-701
Police Cantonment Complex Block D
Singapore 088762

Related Links

Last Updated on 22 October 2018