Singapore

The Suspicious Transaction Reporting Office (STRO) constitutes Singapore’s FIU, created by the CDSA of 1992, enacted in January 2000. The office serves as a specialized security-oriented unit under the Commercial Affairs Department (CAD) of the Singapore Police Force (SPF). It is the national point of contact that is responsible for gathering and distributing intelligence related to financial crime, including money laundering, terrorism financing, and cross-border financial crimes [CDSA]. It is an important liaison between financial institutions or professional gatekeepers such as banks, casinos, and property agencies and the investigation team, which converts the regulatory report into intelligence products for the purpose of protecting Singapore's financial system.

The Suspicious Transaction Reporting Office (STRO) gathers, analyzes, and distributes financial intelligence to uncover and prevent money laundering, terrorism financing, and any other type of major financial crime. To do so, the STRO acts as the central national clearinghouse of regulatory reports and processes millions of STRs, CTRs, and CMRs via its secure SONAR system [CDSA]. It reviews this raw data and detects illicit financial trends and converts the complicated transactions into useful intelligence that is passed on to national and foreign law enforcement agencies in the Egmont Group to facilitate the confiscation and prosecution of such financial crimes [CDSA]. Moreover, it also enhances the local compliance regime by issuing trend typologies and indicators [CDSA].