Singapore legislation
Section 60
of Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992
Section 60
Reports about cross border movements of cash
(1)
A person must not move or attempt to move into or out of Singapore cash the total value of which exceeds the prescribed amount (or its equivalent in a foreign currency), without giving a report in respect of the movement in accordance with this section.
(2)
A person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 3 years or to both.
(3)
It is a defence for a person charged with an offence under subsection (2) to prove that the person did not know and had no reasonable ground to believe that the receptacle within which the cash was moved or attempted to be moved contained cash.
(4)
A report under this section must —
be in the prescribed form;
contain full and accurate information relating to the matter being reported as is specified in the form;
be given —
to an immigration officer if the movement of the cash is to be effected by a person bringing or taking the cash into or out of Singapore with the person; or
in any other case, to a Suspicious Transaction Reporting Officer or, if regulations permit, to an immigration officer; and
be given at the prescribed time.
(5)
The Minister may make regulations for the matters referred to in this section; and may, for the purposes of subsection (4)(a) and (d), prescribe different forms and different times —
for different manners of moving cash into and out of Singapore; and
for different classes of persons.
(6)
Subsection (1) does not apply if —
the person is a commercial passenger carrier; and
the cash is in the possession of any of the carrier’s passengers.
(7)
Subsection (1) does not apply if ––
the person is a commercial goods carrier;
the cash is carried on behalf of another person;
the other person has not disclosed to the carrier that the goods carried on behalf of the other person include cash; and
the carrier does not know and has no reasonable ground to believe that the goods carried on behalf of the other person include cash.
(8)
The burden of proving the matters referred to in subsection (6) or (7) lies with the person who wishes to rely on that subsection.[48C