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: 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. The cash transaction reporting regime is aligned with the international standards set by the Financial Action Task Force (FATF) to combat money laundering and the financing of terrorism and proliferation of weapons capable of causing mass destruction. This is to facilitate the detection, investigation and prosecution of money laundering, terrorism financing and other serious crimes.

There is a requirement for regulated dealers as defined under the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019 ( PSPM Act) and pawnbrokers under the Pawnbrokers Act 2015 to report cash transactions.

Dealing in precious stones and precious metals is thus a convenient means for criminals (including terrorists) to launder their illicit funds. Precious stones and precious metals have high commercial value and are portable. Special Developments / Special InfrastructuresĬASH TRANSACTION REPORTING Precious Stones and Precious Metals Dealers.Conduct of Lucky Draw and Donation Draw.Theft Of Bicycle and Personal Mobility Devices.National Police Cadet Corps Inspectors and Honorary Officers.Volunteer Special Constabulary Community.Industry Safety and Security Watch Group.Singapore Police Bicentennial 2020 Medal.

Currency transaction report analytics