A customer trades-in jewellery/gold bar/s or any other precious stone and precious metal ("PSPM"). The total cash received from the customer, for payment, is below the threshold of S$20,000. Is there a need to file a Cash Transaction Report ("CTR")?

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If the cash received from the customer is below the threshold of the S$20,000 cash requirement for filing of CTR, there is no requirement to file a CTR.

For example, a regulated dealer sold PSPM worth S$25,000 and the customer makes partial payment for the transaction by trading in a PSPM worth S$13,000. The amount of cash received for the remaining payment is S$12,000. In such a case, there is no requirement to file a CTR.

A designated transaction refers to transaction where payment exceeding S$20,000 in value is received in cash or a cash equivalent. Regulated dealers are required to conduct customer due diligence before entering into a designated transaction and file a cash transaction report on that transaction.

A customer trades-in jewellery/gold bar/s or any other precious stone and precious metal ("PSPM"). The total cash received from the customer, for payment, is below the threshold of S$20,000. Is there a need to file a Cash Transaction Report ("CTR")?

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Related questions

I am a wholesaler. Do I need to perform customer due diligence ("CDD") if I received payment in gold bar or scrap gold bar? Do I need to submit a Cash Transaction Report ("CTR") if the transaction involved payment in gold bar/scrap gold/gold jewellery?

I suspect that a cash transaction that exceeds S$20,000 is related to criminal conduct. What reports do I need to submit?

I am a foreign incorporated business/ company/ individual. Do I need to register (e.g. I am the supplier of precious stones and precious metals to a regulated dealer in Singapore. I do not carry out sales in Singapore)?

Can I consolidate the submission of Cash Transaction Report ("CTR") (e.g. on a monthly basis)?

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