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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 ...
Singapore authorities on Friday announced new measures to tackle money laundering, including inter-agency data-sharing, striking off of inactive companies and channels and programmes to get ...
Ten foreigners accused of involvement in a major money laundering operation in Singapore were again remanded to custody on Wednesday, with new charges slapped on eight, as the city-state widens ...
SINGAPORE (Reuters) -Assets seized in Singapore's biggest money laundering case have risen to more than S$3 billion ($2.24 billion) from S$2.8 billion in October, Singapore's Business Times ...
In Singapore, just like any other country in the world, organized crime is considered a criminal act. This includes running unlicensed money lending facilities and operating illegal gambling dens, among other crimes. Given the severe penalty attached to organized crime, Singapore records an average low crime rate compared to the rest of the world.
In Singapore, unsecured credit, including credit card debt and personal loans, can carry high interest rates due to the lack of collateral. To safeguard borrowers from excessive debt accumulation, the Monetary Authority of Singapore (MAS) has implemented measures effective since January 1, 2018. These rules cap additional unsecured credit for ...
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On 19 October 2022, BOS Wealth Management Europe S.A., the Luxembourg-based European wealth management arm of Bank of Singapore, was fined €210,000 by Luxembourg’s financial regulator Commission de Surveillance du Secteur Financier (CSSF) for non-compliance with laws on the fight against money laundering and combatting the financing of terrorism.