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Money laundering

URA urges developers to apply due diligence measures that match the nature and complexity of the property purchase.

URA urges developers to take ‘risk-proportionate’ approach to anti-money laundering checks

Verifying sources of wealth and funds not required for most homebuyers, says the housing regulator

Buntono is accused of possessing properties that, in part, represent his benefits from income tax evasion, including a Lamborghini Aventador similar to the one pictured.

Lamborghini-driving boss of Eminent Frog Porridge charged with S$3.8 million tax evasion, money laundering

Assets linked to alleged crimes include the car, landed property and S$2.4 million in cash

Ng Teck Lee is said to have made more than US$51 million from his schemes, which involved allegedly misappropriating electronic scrap meant for disposal.

Companies & Markets

Former Citiraya CEO hit with fresh charges spanning corruption, money laundering

New allegations shed more light on one of Singapore’s largest embezzlement scandals

The Republic emerged with stronger ratings than its previous Financial Action Task Force assessment in 2016.

Singapore earns top rating in fight against financial crime despite shadow of S$3 billion money laundering scandal

Despite high marks, a global watchdog flags gaps in sanctions and oversight of certain sectors

In the age of complex transnational financial crime, the future of anti-money laundering depends on the integrity of those who stand at the system’s entry points.

Gatekeepers or conduits? Fortifying Singapore’s incorruptibility

Even with strong regulations, professional intermediaries remain attractive entry points for criminals

The Monetary Authority of Singapore issued a 16-year and seven-year prohibition order against two former bankers involved in Singapore's largest money laundering scandal.

MAS issues prohibition orders against ex-bankers involved in S$3 billion money laundering scandal

The two former bankers are barred from conducting any MAS-regulated activities and cannot participate in the management of any financial institution

The Court of Appeal found that a provision in the cross-border insolvency framework bars foreign representatives from bringing claims over transactions that predate the law.

Liquidators lose appeal to sue StanChart, BSI over dodgy 1MDB deals

The appellants are pursuing other ‘workarounds’, such as winding up the relevant entities involved

On Monday, Taiwan put 33 luxury cars, including Ferraris, up for auction after they were seized as part of the investigation.

Taiwan indicts 62 over suspected scam centre operator Prince Group

The transnational scam industry has emerged in South-east Asia during the pandemic

Watches seized by the police in their investigation into Chen Zhi's scam syndicate.

Assets seized in connection with Chen Zhi’s transnational scam syndicate total over S$500 million, says Singapore police

Three Singaporeans have been arrested so far for their suspected involvement in money laundering offences

The assets, including luxury condominiums, yachts and cars, were frozen by the Anti-Money Laundering Office in December.

Thailand moves to seize US$420 million assets linked to scammers

Assets facing confiscation include those belonging to alleged scam kingpin Chen Zhi

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