Businesses and their employees to file Suspicious Transaction Reports (STRs), Cross Border Cash Movement Reports (CMRs - Form NP 728) and Cash Transaction Reports for Precious Stones and Metals Dealers (CTRs - Form NP 759) electronically to the Suspicious Transaction Reporting Office (STRO). SONAR replaces the Suspicious Transaction Report Online Lodging System (STROLLS) and the Electronic 728 (E728) service with effect from 20 August 2018.
Note to Filers of Cash Transaction Reports (Form NP 759):
On 10 April 2019, there are changes to the cash transaction reporting requirements.
You may continue to use the Form NP 759 for electronic submission via SONAR for the following cash transactions:
- You sell any precious stone(s), precious metal(s) or precious product(s) to a customer and receive cash exceeding SGD 20,000 as payment; or
- You conduct two or more sales of any precious stone(s), precious metal(s) or precious product(s) in a single day to the same customer, or to customers whom you know act on behalf of the same person and receive cash exceeding SGD 20,000 as payment.
For other cash transaction reporting requirements, see Cash Transaction Reporting.
It is an offence under section 27 of the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act and section 70 of the Pawnbrokers Act to provide any information that is materially false or misleading or to omit to provide any information knowing or having reason to believe that such omission will create a false or misleading impression.