By Xinghui Kok SINGAPORE (Reuters) - The total value of assets seized in Singapore's biggest money laundering case has swelled to S$2.4 billion ($1.76 billion), police said on Wednesday. The assets now include cash amounting to more than S$76 million, 68 gold bars,...
It was Singapore's largest money-laundering case. The joint investigators found that the drug syndicate used couriers to smuggle money physically into Singapore between 1989 and 1992. The cash was laundered through money-changers in Singapore and in the Middle East. Some of the illegal cash ...
The main culprit in Singapore's largest money laundering case, Su Wenqiang, pleaded guilty on April 2 and was sentenced to 13 months in prison. The amount involved has risen to more than S$3 billion, and 10 people have been charged so far. Two Chinese men, Su Yongcan and Wang Huoqiang...
Warrants of arrest and Interpol Red Notices have also been issued against two more Cambodian nationals for money laundering offences. To continue reading... Sign in Password * Remember me Lost your password? Subscribe Subscribe to Regulation Asia to gain access to APAC’s leading platform for...
TD to pay $3.1 billion in money laundering case, face asset cap BYChristine Dobby,David VoreacosandBloomberg October 10, 2024 Singapore is trying to be a wealth hub. Now 6 family offices that got tax breaks are tied to the nation’s biggest money-laundering case ...
One Integrated Workflow Enabling Clients to Achieve Better Regulatory Outcomes Book Demo Know Your Customer - KYC | Know Your Business - KYB | Anti Money Laundering - AML Artificial Intelligence - AI | Counter-Terrorism Financing - CFT | Due Diligence | Fraud Control / Management ...
Named “Cosmic” ( COllaborative Sharing of Money Laundering/TF Information & Cases ), the platform was co-developed by MAS and six major commercial banks in Singapore – DBS, OCBC, UOB, Citibank, HSBC, and Standard Chartered Bank. These banks will also be Cosmic’s participant FIs during...
No Isolated Case It is actually remarkable that all of this didn't happen much earlier given Singapore's reputation of having the strongest rules worldwide when it comes to the prevention of money laundering and other financial crime. Ostensibly, there is a big gap between what the authorities...
1MDB, founded by Malaysian Prime Minister Najib Razak, isfacing money laundering probesin at least six countries including theUnited States,Switzerlandand Singapore. Najib has denied any wrongdoing. A Goldman Sachs spokesman in Hong Kong declined to comment. Officials at the Singaporean police and 1...
Collaboration tools. Case management software helps departments coordinate their activities by providing a central storehouse of compliance information. Fraud Detection and Prevention. Banks have some time to stop money laundering after it’s discovered, though fraud cases should ideally be stopped before...