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For example, in the United States, suspicious transaction reports [3] must be reported to the Financial Crimes Enforcement Network (FinCEN), an agency of the United States Department of the Treasury. FinCEN maintains a team of analysts who meticulously review these Suspicious Activity Reports to detect potential money laundering activities.
A financial intelligence unit (FIU) is a national body or government agency or international organization [1] [2] which collect information on suspicious or unusual financial activity from the financial industry and other entities or professions required to report suspicious transactions, suspected of being money laundering or terrorism financing.
The Police Intelligence Department (PID) is a staff department of the Singapore Police Force (SPF). Its primary purpose is to collate and analyse information obtained from the various departments of the SPF, as well as other sources, to support law enforcement activities in Singapore. The department is also the staff authority on matters ...
Chia is currently serving a 42-year jail term since 2004 for the crime, which was then the worst commercial crime Singapore has ever witnessed. [11] In January 2000, the CAD acted upon a report to arrest SIA cabin crew supervisor Teo Cheng Kiat for embezzling an approximate sum of $35 million from his company. Teo was charged with 26 counts of ...
Transaction monitoring systems, which focus on identification of suspicious patterns of transactions which may result in the filing of suspicious activity reports (SARs) or Suspicious Transaction Reports (STRs). Identification of suspicious (as opposed to normal) transactions is part of the KYC requirements. Currency transaction reporting (CTR ...
It is the biggest money laundering case in Singapore, and among the biggest in the world, [2] involving assets worth 3 billion Singapore dollars. [ 3 ] Initially, only 1 billion Singapore dollars worth of assets was either seized, frozen or issued prohibition of disposal orders although the value of assets involved would later balloon to 3 ...
The CPIB also operates with functional independence from the police and nominally from the government, and is headed by a director who reports directly to the Prime Minister but may also additionally report to the President, especially if the former refuses to give consent for a formal investigation or there's a potential case against the Prime ...
The Criminal Investigation Department (CID) is one of the many departments under the Singapore Police Force for premier investigation and staff authority for criminal investigation matters within the Singapore Police Force. [1] It is led by the Director of CID and assisted by 3 Deputy Directors. CID has a staff of over 500 officers: Senior ...