Singapore: 12% increase in suspicious transactions reported: Commercial Affairs Department

There was an increase in suspicious transaction reports (STR) submitted last year, according to the Commercial Affairs Department (CAD) annual report.

Last year, there were 34,129 such reports filed with the Suspicious Transaction Reporting Office (STRO) – a unit under CAD which receives, analyses and disseminates financial intelligence. This is a 12 per cent increase from the figure in 2015.

The numbers have been on the upward trend since 2013, where the office saw just 22,417 reports. The STRO saw 29,082 such reports in 2014 and 30,511 reports in 2015.