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New guidelines to fight money laundering and financial crime in Singapore

Best practice papers put up case studies and red flags to help banks spot trade-based money laundering

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To lauder money through round-tripping, a South Asian conglomerate used 10 subsidiaries to swiftly shift funds of no more than US$20 million each time over just two months between these units.

Singapore

TO LAUNDER money through round-tripping, a South Asian conglomerate used 10 subsidiaries to swiftly shift funds of no more than US$20 million each time over just two months between these units.

The subsidiaries were in parts of South-east Asia, South Asia, and the Middle

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