When should I file a Suspicious Transaction Report (STR)?
If your charity knows 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”). This reporting requirement is set out in 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 are obligated to provide information on property and financial transactions belonging to terrorist and acts of terrorism financing to the Police. This legal obligation is set out in the Terrorism (Suppression of Terrorism) Act 2022 (“TSOFA”).
Failure to file a STR and to provide information may constitute a criminal offence.
If you are aware that a crime has been committed or the charity is a victim of a crime, your charity should file a Police Report.
Related questions
How do I file a Suspicious Transaction Report (STR)?
Who should file a Suspicious Transaction Report (STR)?
How to report a concern regarding a contravention of the Charities Act/Regulations or a dubious fund-raising appeal?
What are the requirements on reporting on overseas expenditures, capital outlay and remittance of funds as agents? Why does the Office of the COC require charities to disclose overseas expenditure, capital outlay and remittance of funds as an agent or trustee?
