Singapore legislation
Regulation 3
Regulation 3
Duty to file cash transaction report
Subregulation 1
A casino operator shall, before the end of the applicable reporting period, file with a Suspicious Transaction Reporting Officer a cash transaction report of the following in accordance with paragraph (2):
every cash transaction with a patron involving either cash in or cash out of $10,000 or more in a single transaction; (b)multiple cash transactions which the casino operator knows are entered into by or on behalf of a patron, the aggregate of which is either cash in or cash out of $10,000 or more in any gaming day.
Subregulation 2
A cash transaction report shall ––
be in the form provided by the Suspicious Transaction Reporting Office established within the Commercial Affairs Department of the Singapore Police Force; and
contain full and accurate information relating to the significant cash transaction being reported as specified in the form.
Subregulation 3
Any casino operator filing a cash transaction report shall, at the time the report is filed or immediately thereafter, submit a copy of the report to the Authority.
Subregulation 4
For the purposes of sub-paragraph (b) of paragraph (1), a casino operator is taken to have the knowledge referred to in that sub-paragraph, until the contrary is proved, if an officer, a director, or an employee of the casino operator, acting within the scope of his employment ––
knows that such multiple cash transactions by or on behalf of a patron have occurred; or
has such knowledge from examining the books, records, logs, information retained on magnetic disk, tape or other machine-readable media, or in any manual system, or similar documents and information, which the casino operator maintains pursuant to any requirement under written law or in the ordinary course of its business, and which contain information that such multiple cash transactions by or on behalf of a patron have occurred.
Subregulation 5
For a period of 5 years from the date of filing a cash transaction report, the casino operator shall keep a copy of the cash transaction report filed and any supporting documentation and records relating to the transaction or transactions the subject of the cash transaction report, which shall be produced to the Authority or to a Suspicious Transaction Reporting Officer on demand.
Subregulation 6
In paragraph (1) ––
Definition
“applicable reporting period” means the period ending 15 days after —
the date on which the single cash transaction in paragraph (1)(a) takes place; or
in the case of multiple cash transactions in paragraph (1)(b), the date the last transaction of the multiple cash transactions takes place;
Definition
“cash in” means a transaction involving the receipt of cash paid by or on behalf of a patron to a casino operator, and includes ––
cash received by the casino operator in exchange for chips;
a deposit of cash (whether at the casino or at a branch office of the casino operator) to be credited into the patron’s account with the casino operator;
cash received (whether at the casino or at a branch office of the casino operator) in settlement of any debt owed by the patron to the casino operator or for the redemption of any cheque held by the casino operator; and
cash inserted into a gaming machine;
Definition
“cash out” means a transaction involving the payout of cash by a casino operator to or on behalf of a patron, and includes ––
cash paid by the casino operator to redeem chips;
cash paid (whether at the casino or at a branch office of the casino operator) upon a withdrawal made from the patron’s account with the casino operator;
cash paid by the casino operator as a complimentary item; and
cash paid by the casino operator as winnings in any tournament, contest, or other draw or game,but does not include the payment of cash winnings derived from a jackpot obtained on a gaming machine;
Definition
“gaming day” means a 24-hour period which constitutes a normal business day of a casino, being the same period by which the casino keeps its books and records for business, accounting and tax purposes.