S'pore is an ideal location for money laundering

[True Believer]

Transparency International Australia CEO Clancy Moore revealed that S'pore, despite its image of strict law enforcement, is a haven for money launderers. "It's a top-tier secrecy jurisdiction for criminals and kleptocrats to hide their ill-gotten gains," he stated. "S'pore's numerous regional banks, low taxes and ease of company formation make it an ideal location for money laundering, as demonstrated by its use by organized crime syndicates and oppressive regimes like the Myanmar junta."

 

[syed putra]

What else is new. Even Najib and jho low syphon money through Sinkie and nobody would have found out if not for US law enforcers action.

 

[Nanodick]

PAP is a disgusting political party.

 

[syed putra]

PAP is a disgusting political party.

They know very well what IS required to boost nation's wealth.

 

[Nanodick]

They know very well what IS required to boost nation's wealth.

You mean their wealth and their related people's wealth

 

[True Believer]

PAP is a disgusting political party.

 

[True Believer]

You mean their wealth and their related people's wealth

 

[True Believer]

They know very well what IS required to boost nation's wealth.

The PAP extracts (extorts) money from the people like the Mafia.

 

[True Believer]

"When you raise ministers’ salaries to the point that they’re earning millions of dollar, every minister - no matter how much he wants to turn up and tell Hsien Loong off or whatever - will hesitate when he thinks of his million-dollar salary. Even if he wants to do it, his wife will stop him." - Retired Permanent Secretary in the Prime Minister’s Office, Ngiam Tong Dow.

 

[True Believer]

What else is new. Even Najib and jho low syphon money through Sinkie and nobody would have found out if not for US law enforcers action.

Our Govt has an open door policy to foreigners because it wants to milk up to 6 million residents. Wouldn't they close one or both eyes if the non-S'poreans are ultra rich? They will be fast tracked to a pink IC, buy freehold land and COEs that are in short supply, thereby placing these prized possessions out of the reach of the middle class citizens.

 

[syed putra]

You mean their wealth and their related people's wealth

Target only the very wealthy. Some of that money will trickle back to the grassroots.

 

[True Believer]

Target only the very wealthy. Some of that money will trickle back to the grassroots.

Many grassroots leaders have benefitted from govt contracts and other goodies beyond CDC vouchers.

 

[True Believer]

I feel sorry for so many HDB upgraders who had to pay way over the top prices for their condos because private residential prices were sent skyrocketing by money launderers buying properties like there is no tomorrow.

 

[laksaboy]

Of course. By intention and design.

 

[Nanodick]

I feel sorry for so many HDB upgraders who had to pay way over the top prices for their condos because private residential prices were sent skyrocketing by money launderers buying properties like there is no tomorrow.

It happens since before HK 1997 with waves of hongkies settling here on PR investment schemes..after 1997, PAP preys on the mainland dirty rich to come.over...

 

[batman1]

PAP is a disgusting political party.

It is a kleptocratic party.

 

[True Believer]

It happens since before HK 1997 with waves of hongkies settling here on PR investment schemes..after 1997, PAP preys on the mainland dirty rich to come.over...

I recall Second Minister for Home Affairs, Josephine claiming that detecting money laundering is challenging because of the many transactions S'pore handles as a leading international financial centre. She shifted responsibility of gatekeeping to the banks, corporate service providers, real estate agents and dealers of precious stones and metals to flag out risks.

 

[Nanodick]

I recall Second Minister for Home Affairs, Josephine claiming that detecting money laundering is challenging because of the many transactions S'pore handles as a leading international financial centre. She shifted responsibility of gatekeeping to the banks, corporate service providers, real estate agents and dealers of precious stones and metals to flag out risks.

Typical bey gan Minister. Useless DEI inclusion into political leadership.

 

[batman1]

Singapore was and is still a money laundering hub.

 

[True Believer]

Singapore was and is still a money laundering hub.

According to Josephine Teo, detecting money laundering is like trying to find not "one needle in a haystack, but one needle in several haystacks”. Well, why not put all these haystacks together, then proceed to search for that one needle? Perhaps she was told not to find that needle.