Effective November 1, 2007, The Singapore government implements a new law for any person who will enter or leave Singapore. According to the report of Belen Anota, (Philippine Ambassador to Singapore) to DFA, arriving and departing persons bearing currency and bearer negotiable instruments (CBNI) amounting to SGD30, 000 or Php 891, 450 are obligated to report the transaction to proper authorities
CBNI includes bills of exchange, checks, promissory notes, bearer bonds, traveler's checks and money orders or postal orders. Report forms are available at major immigration checkpoints, commercial transport operators and visitor centers in Singapore. It can also be downloaded from the Singapore Police Force websites, www.spf.gov.sg and www.cad.gov.sg.
The completely filled-up forms must be submitted to the Suspicious Transaction Reporting Office (STRO) at least one business day (or if the report is to be sent by post, no later than two business days)before the moving of the cash. If the form will be sent via mail, two business days before the moving of the cash is required.
