Suspicious Transaction Reports Received by Commercial Affairs Department

Debated in Parliament on 10 Jan 2023.

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Ms Sylvia Lim asked the Minister for Home Affairs for the average number of suspicious transaction reports (STRs) received annually by the Commercial Affairs Department over the past three years and the percentage of STRs that resulted in prosecutions for money-laundering and terrorism-financing offences.
The Suspicious Transaction Reporting Office received an average of 37,000 STRs annually between 2019 and 2021.
The office does not track the number of STRs by prosecution outcomes.
About 20% of STRs disseminated to domestic law enforcement agencies between 2019 and 2021 led to commencement of investigations or supported investigations.

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Sylvia Lim

Ms Sylvia Lim asked the Minister for Home Affairs (a) what is the average number of suspicious transaction reports (STRs) received annually by the Commercial Affairs Department for the past three years; and (b) what percentage of these STRs resulted in prosecutions for money-laundering and terrorism-financing offences.

K Shanmugam

The Suspicious Transaction Reporting Office (STRO) of the Commercial Affairs Department received an average of 37,000 suspicious transaction reports (STRs) annually between 2019 and 2021.

The STRO does not track the number of STRs by prosecution outcomes.

About 20% of the STRs disseminated to domestic law enforcement agencies between 2019 and 2021 led to commencement of investigations or supported investigations.

Summary written by AI (learn more)

Ms Sylvia Lim asked the Minister for Home Affairs for the average number of suspicious transaction reports (STRs) received annually by the Commercial Affairs Department over the past three years and the percentage of STRs that resulted in prosecutions for money-laundering and terrorism-financing offences.
The Suspicious Transaction Reporting Office received an average of 37,000 STRs annually between 2019 and 2021.
The office does not track the number of STRs by prosecution outcomes.
About 20% of STRs disseminated to domestic law enforcement agencies between 2019 and 2021 led to commencement of investigations or supported investigations.

Questions identified by AI (learn more)

Suspicious Transaction Reports Received by Commercial Affairs Department | PAPERCUTS

Suspicious Transaction Reports Received by Commercial Affairs Department

Debated in Parliament on 10 Jan 2023.

Summary written by AI (learn more)

Ms Sylvia Lim asked the Minister for Home Affairs for the average number of suspicious transaction reports (STRs) received annually by the Commercial Affairs Department over the past three years and the percentage of STRs that resulted in prosecutions for money-laundering and terrorism-financing offences.
The Suspicious Transaction Reporting Office received an average of 37,000 STRs annually between 2019 and 2021.
The office does not track the number of STRs by prosecution outcomes.
About 20% of STRs disseminated to domestic law enforcement agencies between 2019 and 2021 led to commencement of investigations or supported investigations.

Questions identified by AI (learn more)

Full Transcript

Sylvia Lim

K Shanmugam

The Suspicious Transaction Reporting Office (STRO) of the Commercial Affairs Department received an average of 37,000 suspicious transaction reports (STRs) annually between 2019 and 2021.

The STRO does not track the number of STRs by prosecution outcomes.

About 20% of the STRs disseminated to domestic law enforcement agencies between 2019 and 2021 led to commencement of investigations or supported investigations.

Summary written by AI (learn more)

Ms Sylvia Lim asked the Minister for Home Affairs for the average number of suspicious transaction reports (STRs) received annually by the Commercial Affairs Department over the past three years and the percentage of STRs that resulted in prosecutions for money-laundering and terrorism-financing offences.
The Suspicious Transaction Reporting Office received an average of 37,000 STRs annually between 2019 and 2021.
The office does not track the number of STRs by prosecution outcomes.
About 20% of STRs disseminated to domestic law enforcement agencies between 2019 and 2021 led to commencement of investigations or supported investigations.

Questions identified by AI (learn more)

Suspicious Transaction Reports Received by Commercial Affairs Department

Summary

Questions Identified

Full Transcript

Sylvia Lim

K Shanmugam

Summary

Questions Identified

Suspicious Transaction Reports Received by Commercial Affairs Department

Summary

Questions Identified

Full Transcript

Sylvia Lim

K Shanmugam

Summary

Questions Identified