Featured Singapore

Malaysia police investigating spouse of ex-central bank boss over 1MDB funds

Malaysian police said on Wednesday it was investigating the husband of the country’s former central bank head for allegedly receiving funds linked to 1MDB, a state fund at the centre of a massive corruption scandal. Malaysian and U.S authorities have said around $4.5 billion was stolen from 1Malaysia Development Berhad… Read More

Singapore regulator tells banks to monitor Myanmar fund flows after coup

Singapore’s central bank has told financial firms to be vigilant to any suspicious transactions or fund flows between the city-state and Myanmar, a circular seen by Reuters showed, citing concerns over the potential for financial crimes. In the Feb 25th circular, the Monetary Authority of Singapore (MAS) reminded all chief… Read More

Singapore: Woman jailed for cheating banks into disbursing S$1.77 million for fake micro-financing loans

Using forged bank statements, fake companies and by bribing bank workers, a woman conspired with a man to cheat three banks into disbursing S$1.77 million in loans. Tan You Jia, 50, was given four-and-a-half years’ jail on Wednesday (Mar 3), after pleading guilty to six charges of bribery and cheating… Read More
22nd February 2021
Drug traffickers engage in a creative game of hide and seek with coast guards and other security forces that board their ships at sea. Rubén Navarrete, a Mexican Navy captain based in the western state of Michoacán, told Televisa News last November that those dedicated to maritime smuggling could only… Read More
15th February 2021
Cryptocurrency exchanges are on tenterhooks as they await the outcome of a proposal by Hong Kong’s government to ban retail investors from trading in the city, at a time when digital assets are winning acceptance as mainstream forms of payment and market leader bitcoin rises to a record level. The… Read More
1st February 2021
A long-running court case involving an art dealer who was accused of swindling $1bn from a Russian oligarch took a step closer to being resolved after Swiss prosecutors moved to close an action against him. The dispute between the dealer, Yves Bouvier, and the oligarch, Dmitry Rybolovlev – known as… Read More
12th January 2021
Former Leighton Holdings executive David Savage has been charged over his alleged role in the international Unaoil scandal, which involved bribery of senior officials in oil-producing nations to secure lucrative contracts. Mr Savage, the former chief operating officer of the prominent Australian infrastructure firm, was arrested by Australian Federal Police… Read More
5th January 2021
Measures to better counter money laundering and terrorism financing were approved yesterday, under changes to the law that regulates virtual payment service providers. These changes will also strengthen laws governing digital payment tokens (DPTs) to ensure that companies issuing such tokens protect the assets of their users, said Transport Minister… Read More
1st January 2021
A two-week police operation conducted from Dec 19 has resulted in the arrest of 230 people for their role in different scams in which victims lost more than S$2.9 million. The 388 ruses involved social media impersonation, Internet love scams, cheats using fake gambling and loan platforms as well as… Read More
22nd December 2020
When Chinese businessman Wang Xi first gambled at Sheldon Adelson’s Marina Bay Sands casino in Singapore, he hit the jackpot, winning $3.7 million. After more wins in later trips, his luck turned sour and he racked up millions in losses. After one particularly tough day in the high-roller room, he… Read More
8th December 2020
A Singapore businessman faces fresh accusations that he falsely claimed to look after money for Wirecard AG, taking the amount covered by a series of charges to 1.2 billion euros ($1.5 billion), equivalent to more than half of the cash missing from the disgraced German payments company. R. Shanmugaratnam,… Read More
1st December 2020
JPMorgan Chase & Co. plans to double the number of private bankers serving Chinese clients from Singapore over the next two years, signaling its ambition to tap growth from Asia’s second-largest wealth market. The U.S. bank currently has more than a dozen relationship managers serving Chinese residents and those on… Read More
11th November 2020
MAS (Monetary Authority of Singapore) has issued a consultation paper on the types of information required for non-face-to-face verification of an individual’s identity. The proposed requirements come against the backdrop of rising impersonation scam cases, and seek to address the risks arising from theft and misuse of an individual’s personal… Read More