10 questions
Regulatory Regime - CTR Filing / CDD matters
Whom may I contact to seek clarifications on the Cash Transaction Report (CTR - Form NP 784)?
I suspect that a cash transaction that exceeds S$20,000 is related to criminal conduct. What reports do I need to submit?
What are some examples of "cash equivalents" in the context of receiving payment from customers?
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)?
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")?
Can I consolidate the submission of Cash Transaction Report ("CTR") (e.g. on a monthly basis)?
After submitting the Cash Transaction Report ("CTR"), can I still proceed to transact with my customer?
As a precious stones and precious metals dealer, are there individuals and entities that I am prohibited from dealing with? Where can I find the relevant information / lists of such individuals and entities?
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?
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