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 news...
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...
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, cryptocurrencies ...
The regulator is looking into a money laundering case and checking whether a number of international and local banks correctly monitored clients' activity. Besides Credit Suisse, other firms mentioned in the report include UBS, Julius Baer, ICBC, UOB and Bank of China. The Monetary Authority of...
Two former bank employees, both Chinese nationals, were charged in Singapore on Thursday in connection with the city-state's biggest money laundering case, police said. Assets worth more than Sg$3.0 billion ($2.3 billion) -- including upmarket properties, luxury cars and gold bars -- were sei...
The two well-known banks in Singapore, Development Bank Singapore (DBS) and Overseas Chinese Banking Corporation (OCBS), have been accused of involvement in one of the country’s largest money laundering case. Last month, Singapore police arrested 10 foreigners in a money laundering case and ...
Under Singapore’s legal system, laws comprise legislation, subsidiary legislation and judge-made case law. The key pieces of legislation regulating M&A in Singapore are the Companies Act 1967 of Singapore (“Companies Act”) and the Securities and Futures Act 2001 of Singapore (“Securities and ...
(CFTC) in the US. These authorities enforce strict compliance regulations, therefore protecting client money and ensuring broker ethical conduct. Check also whether the broker has segregated accounts, which separate your money from the running capital of the broker, and guard it. In the case of ...
Use case Fraud prevention and anti–money laundering Learn how Oracle Data Platform for financial services can help you reduce risk and improve fraud detection and compliance in this use case. Read the use case for risk calculations and regulatory reporting Use case Risk calculations and regulat...