Singapore to start rule on precious stones beginning 15 Oct
To apply to cash deals above $20,000.
Singapore will start a cash transaction reporting regime for precious stones and metals dealers beginning Oct. 15, the Monetary Authority of Singapore said on its website.
The new rule applies to cash deals above S$20,000 ($15,635).
The rule is intended to help reduce the risk of money laundering and terrorism financing associated with deals involving precious commodities.