Posted 2mo ago inPrecious Stones and Precious Metals Dealers Regulatory Regime - CTR Filing / CDD matters

What is the penalty for non-compliance with the cash transaction reporting requirement?

mlaw

Source: https://www.mlaw.gov.sgLast updated 2mo ago

Regulated dealers and pawnbrokers who fail to submit cash transaction reports within 15 days of the transaction and/or fail to keep records of the cash transaction report for 5 years after the transaction shall be guilty of an offence and shall be liable on conviction to a fine of up to SGD 20,000 and/or term of imprisonment for up to 2 years or to both.

This information provided here is sourced from the MLAW website.

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What is the penalty for non-compliance with the cash transaction reporting requirement?

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