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Singapore did no hold any referendum nor poll to settle any agreement on a common stand towards wars happening in the world. Citizens & FTs from vast backgrounds have their own rights and stands and interest in these wars although Singapore is not directly involved.
How can PAP make law to force everyone to share their PAP party stand and position towards these wars happening outside and not involving SGP?
What harm does it do to Singaporeans people, when individual citizen decides to help a certain party in the war, or make profit in business with the warring parties. As long as these act are not committed within lawful jurisdiction of Red Dot, what basis does PAP have to arrest and deport citizens to an enemy of these citizens who they took part in war against?
This is betrayal of citizen's rights and faith and spirit and business interest.
PAPgovt is producing and selling arms and ammos to parties involving in war, abuse our SAF facility to help certain sides of the wars, and PAP had been doing so abusing power and did not obtain any consent from citizens. No mandate no referendum no approval was given by citizens. And now the PAP govt is abusing law again to help a certain side of the war to capture their enemies who are Singaporean citizens and turn them over to hostile states. Is this not what PAP is doing?
:oIo:
PAP brought home the war which majority Singaporean people has nothing to do with. Then abuse law to compromize citizens' rights and help a party selected by the PAP in this war, then they fucking talk SHIT about INTEGRATION?
WAF?
They are looking for a war in Singapore between people and PAP GOVT?
:oIo:
http://www.businessweek.com/news/20...n-money-laundering-terror-financing-laws.html
Singapore to Toughen Money Laundering, Terror Financing Laws
October 28, 2011, 4:41 AM EDT
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By Luzi Ann Javier
(Updates with comment from lawyer in fifth paragraph.)
Oct. 28 (Bloomberg) -- Singapore, where assets under management have risen fivefold to $1.2 trillion since 2001, will consider a “tougher penalty regime” and boost enforcement against money laundering and terrorist financing.
The city-state will also make laundering of proceeds from tax offenses a crime and tighten laws on tax evasion, said Ravi Menon, managing director of the Monetary Authority of Singapore, the country’s central bank.
“We will ensure that financial crime does not pay in Singapore and those who jeopardize Singapore’s hard-earned reputation as a financial center of integrity face severe consequence,” Menon said in a speech late yesterday. “Singapore is sending a clear message that it neither wants nor will tolerate these illicit inflows.”
The Asian nation, which has the highest proportion of millionaires in the world, was criticized in a March U.S. State Department report as being vulnerable to money launderers. Singapore’s economy expanded 14.5 percent last year, boosted by two new casino resorts.
“The speech sends a clear signal that the authorities do not want to see tax evaders from other countries using Singapore as a safe haven for their undeclared funds,” said Edmund Leow, a tax lawyer at Baker & McKenzie.Wong & Leow in Singapore. “This will put Singapore in a similar position to Hong Kong, where tax evasion is already a money-laundering offense.”
Supervisory Intensity
Singapore, where bank deposits for foreigners and gains from investments including equities are tax-exempt, has pledged to comply with international standards. It was dropped from the Organization of Economic Co-operation and Development’s so- called gray list in 2009.
The Commercial Affairs Department, the city-state’s white- collar crime unit, will double the number of employees monitoring suspicious financial transactions to detect criminal activity, Menon said.
The central bank has conducted on-site inspections at financial institutions to ensure anti-money laundering and terrorism financing laws are followed, and those that didn’t meet standards were warned and reprimanded in writing, he said.
The “MAS is reviewing whether we need to increase our supervisory intensity and is considering if we should make public sanctions against persistently or egregiously errant institutions,” Menon said.
Deferred Prosecution
The central banker’s comments come about a month after Singapore Attorney General Sundaresh Menon said he will seek tougher penalties for white-collar criminals and cooperate more with global agencies to deter money laundering and tax evasion.
Singapore, which is known for imposing high fines for minor infractions such as littering, uses caning as a punishment for certain offenses. It also enforces the death penalty for serious crimes such as drug smuggling.
The city-state is also considering the use of deferred prosecution, the attorney general said, referring to a commonly used method in the U.S. under which defendants who agree to cooperate with investigators, pay fines or implement corporate reforms, have charges against them dismissed if they fully comply.
Money-laundering convictions in Singapore climbed to an average of 21 a year from 2008 to 2010, compared with four between 2000 and 2007, according to the Financial Action Task Force, a Paris-based watchdog. Hong Kong had 360 money- laundering convictions in 2010, compared with 179 in 2007.
“Tales of large inflows of funds from Europe into Singapore are vastly exaggerated,” said Menon from the central bank, adding that the growth of the city’s private banking industry was spurred by wealth generated from Asia’s economic growth.
--With assistance from Andrea Tan in Singapore. Editors: Linus Chua, Shamim Adam, Lars Klemming.
To contact the reporters on this story: Luzi Ann Javier in Singapore at [email protected];
To contact the editor responsible for this story: Lars Klemming at [email protected]
How can PAP make law to force everyone to share their PAP party stand and position towards these wars happening outside and not involving SGP?
What harm does it do to Singaporeans people, when individual citizen decides to help a certain party in the war, or make profit in business with the warring parties. As long as these act are not committed within lawful jurisdiction of Red Dot, what basis does PAP have to arrest and deport citizens to an enemy of these citizens who they took part in war against?
This is betrayal of citizen's rights and faith and spirit and business interest.
PAPgovt is producing and selling arms and ammos to parties involving in war, abuse our SAF facility to help certain sides of the wars, and PAP had been doing so abusing power and did not obtain any consent from citizens. No mandate no referendum no approval was given by citizens. And now the PAP govt is abusing law again to help a certain side of the war to capture their enemies who are Singaporean citizens and turn them over to hostile states. Is this not what PAP is doing?
:oIo:PAP brought home the war which majority Singaporean people has nothing to do with. Then abuse law to compromize citizens' rights and help a party selected by the PAP in this war, then they fucking talk SHIT about INTEGRATION?
WAF?
They are looking for a war in Singapore between people and PAP GOVT?
:oIo:
http://www.businessweek.com/news/20...n-money-laundering-terror-financing-laws.html
Singapore to Toughen Money Laundering, Terror Financing Laws
October 28, 2011, 4:41 AM EDT
More From Businessweek
Thai Floods Swamp Grand Palace as Bangkok River Reaches Record
Sarkozy Wins China Cooperation Pledge as Japan Plans EFSF Aid
Brokers See Policy Easing as China Premier Signals Change
S. Korea’s Ruling Party Risks ‘Serious Blow’ in Seoul Vote
China Communists Vow to Strengthen Management of Internet
By Luzi Ann Javier
(Updates with comment from lawyer in fifth paragraph.)
Oct. 28 (Bloomberg) -- Singapore, where assets under management have risen fivefold to $1.2 trillion since 2001, will consider a “tougher penalty regime” and boost enforcement against money laundering and terrorist financing.
The city-state will also make laundering of proceeds from tax offenses a crime and tighten laws on tax evasion, said Ravi Menon, managing director of the Monetary Authority of Singapore, the country’s central bank.
“We will ensure that financial crime does not pay in Singapore and those who jeopardize Singapore’s hard-earned reputation as a financial center of integrity face severe consequence,” Menon said in a speech late yesterday. “Singapore is sending a clear message that it neither wants nor will tolerate these illicit inflows.”
The Asian nation, which has the highest proportion of millionaires in the world, was criticized in a March U.S. State Department report as being vulnerable to money launderers. Singapore’s economy expanded 14.5 percent last year, boosted by two new casino resorts.
“The speech sends a clear signal that the authorities do not want to see tax evaders from other countries using Singapore as a safe haven for their undeclared funds,” said Edmund Leow, a tax lawyer at Baker & McKenzie.Wong & Leow in Singapore. “This will put Singapore in a similar position to Hong Kong, where tax evasion is already a money-laundering offense.”
Supervisory Intensity
Singapore, where bank deposits for foreigners and gains from investments including equities are tax-exempt, has pledged to comply with international standards. It was dropped from the Organization of Economic Co-operation and Development’s so- called gray list in 2009.
The Commercial Affairs Department, the city-state’s white- collar crime unit, will double the number of employees monitoring suspicious financial transactions to detect criminal activity, Menon said.
The central bank has conducted on-site inspections at financial institutions to ensure anti-money laundering and terrorism financing laws are followed, and those that didn’t meet standards were warned and reprimanded in writing, he said.
The “MAS is reviewing whether we need to increase our supervisory intensity and is considering if we should make public sanctions against persistently or egregiously errant institutions,” Menon said.
Deferred Prosecution
The central banker’s comments come about a month after Singapore Attorney General Sundaresh Menon said he will seek tougher penalties for white-collar criminals and cooperate more with global agencies to deter money laundering and tax evasion.
Singapore, which is known for imposing high fines for minor infractions such as littering, uses caning as a punishment for certain offenses. It also enforces the death penalty for serious crimes such as drug smuggling.
The city-state is also considering the use of deferred prosecution, the attorney general said, referring to a commonly used method in the U.S. under which defendants who agree to cooperate with investigators, pay fines or implement corporate reforms, have charges against them dismissed if they fully comply.
Money-laundering convictions in Singapore climbed to an average of 21 a year from 2008 to 2010, compared with four between 2000 and 2007, according to the Financial Action Task Force, a Paris-based watchdog. Hong Kong had 360 money- laundering convictions in 2010, compared with 179 in 2007.
“Tales of large inflows of funds from Europe into Singapore are vastly exaggerated,” said Menon from the central bank, adding that the growth of the city’s private banking industry was spurred by wealth generated from Asia’s economic growth.
--With assistance from Andrea Tan in Singapore. Editors: Linus Chua, Shamim Adam, Lars Klemming.
To contact the reporters on this story: Luzi Ann Javier in Singapore at [email protected];
To contact the editor responsible for this story: Lars Klemming at [email protected]
