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

Updated by MLAW 11mo ago

A regulated dealer should submit one CTR for each customer based on the total value of cash transactions with the customer in a single day.

For example, a customer made four cash purchases of gold as follows:

1 December: S$35,000
3 December: S$15,000
5 December: S$15,000 from Branch A and S$15,000 from Branch B

The regulated dealer should submit two separate CTRs:

One CTR for the transaction on 1 December
One CTR for the two transactions on 5 December (total sum exceeds S$20,000)

A CTR is not required for the transaction on 3 December as it did not exceed the cash threshold of S$20,000.

Topics:

Precious Stones and Precious Metals Dealers Regulatory Regime - CTR Filing / CDD matters

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