Can I consolidate the submission of Cash Transaction Report ("CTR") (e.g. on a monthly basis)?
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.
Related questions
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")?
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?
Whom may I contact to seek clarifications on the Cash Transaction Report (CTR - Form NP 784)?
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