[EvertonDiehard]

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."

[EvertonDiehard]

Countries like Turkey, Saint Kitts and Nevi, Cambodia, Vanuatu as well as Dominica offer fast-track schemes that take only months for ultra wealthy foreigners to obtain citizenship. Why is S'pore seemingly headed down the same path as these shady countries when countries like Cyprus have stopped doing so? Australia and many European nations have abolished "golden visa" programmes owing to concerns about corruption and money laundering.

[Gemstar]

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."

Am Indonesian former minister was the whistle blower regarding easy money laundering in Singapore, many years ago. But, our govt brushed off this, claiming no such thing wil ever happen here. Then, a few years ago, what happened? Prepare to slap oneself.

[winbig]

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."

U want kopi, kopi o, kopi c, kopi siew dai, kopi ga dai, kopi di lo or kopi o kosong? 

[EvertonDiehard]

Am Indonesian former minister was the whistle blower regarding easy money laundering in Singapore, many years ago. But, our govt brushed off this, claiming no such thing wil ever happen here. Then, a few years ago, what happened? Prepare to slap oneself.

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.  

[EvertonDiehard]

The SG govt needs more people to: 

[Gemstar]

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."

I supports yr stance. Face the facts and truths when things do really happened. That is no doubt abt it. Therefore, don't jumps the gun claiming that no such thing wil ever happened in our country. This is a wake-up call.

[EvertonDiehard]

I supports yr stance. Face the facts and truths when things do really happened. That is no doubt abt it. Therefore, don't jumps the gun claiming that no such thing wil ever happened in our country. This is a wake-up call.

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. 

[Gemstar]

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. 

Sad to say we hv horrible regulators who only knows how to collect lucrative pay and waiting for problems to surface.

[pinkypanther]

https://tinyurl.com/cy6eesh5

[Scythian]

"Singapore’s financial system has in recent years repeatedly played a part in international corruption scandals. Lee Hsien Yang said: “People need to look beyond Singapore’s bold, false assertions and see what the reality really is like.”

He added: “There is a need for the world to look more closely, to see Singapore’s role as that key facilitator for arms trades, for dirty money, for drug monies, crypto money.”"

[Scythian]

"A Singapore government spokesperson said the country had “a robust system to deter and tackle money laundering and other illicit financial flows”, pointing to its favourable ranking in Transparency International’s corruption perception index, well above the UK.

Duncan Hames, director of policy at Transparency International UK, said: “As Britain knows all too well, countries can look like they don’t have a domestic corruption problem yet still play a key role in enabling corrupt networks elsewhere. Singapore’s regional role as a major financial hub makes it attractive to those seeking to move or hide illicit funds, especially from a relatively high-risk neighbourhood.”"

[Scythian]

Sad to say we hv horrible regulators who only knows how to collect lucrative pay and waiting for problems to surface.

If it's proven the whole system is in fact fabricated and rotten then, ...

Who's the culprit should be prosecuted?

[Scythian]

"BHP loses tax case over Singapore marketing hub, hit with $125 million bill"
https://www.abc.net.au/news/2020-03-11/b...ion%20bill

[Scythian]

"A Singapore government spokesperson said the country had “a robust system to deter and tackle money laundering and other illicit financial flows”, pointing to its favourable ranking in Transparency International’s corruption perception index, well above the UK.

Duncan Hames, director of policy at Transparency International UK, said: “As Britain knows all too well, countries can look like they don’t have a domestic corruption problem yet still play a key role in enabling corrupt networks elsewhere. Singapore’s regional role as a major financial hub makes it attractive to those seeking to move or hide illicit funds, especially from a relatively high-risk neighbourhood.”"

"Why Singapore national newspapers The Straits Times and media CNA been keeping silence under wraps the systems which facilitates illegal arm trades, money laundering and illicit financial flows?

Presumably both knowingly supporting undercovers unlawful activities, ST and CNA should be taken to task.
 
Why nothing has been done?"

[Ernesto]

This may another example making $22.5 millions within a short period of time and directly cause high inflation onto the local.
https://www.straitstimes.com/business/pr...51-million

[Scythian]

"ATO settles dispute over Singapore hub

ATO Deputy Commissioner Rebecca Saint welcomed the ASX announcement from Ampol, noting the settlement shows the ATO’s commitment to working with multinationals to ensure full compliance with the Australian tax regime.

The settlement resolves the dispute for past years back to 2014 for $157 million. Importantly, it also locks in the tax outcomes of the arrangement out to 2033."
https://www.ato.gov.au/media-centre/ato-...0to%202033.

[Scythian]

"Ex-SLA employees sentenced to at least 15 years’ jail

Two ex-employees of Singapore Land Authority (SLA) were sentenced to jail by the High Court on cheating and money laundering charges.

Koh Seah Wee, 41, former SLA deputy director of technology and infrastructure, earlier admitted to 59 charges and was sentenced to 22 years of jail, reported Channel NewsAsia.

Koh's accomplice,38-year-old Christopher Lim Chai Meng, former manager at SLA, was sentenced to 15 years imprisonment after admitting to 49 charges.

Of the $12.2 million laundered, $7.5 million was recovered from Koh, reported The Straits Times."
https://sg.news.yahoo.com/two-former-sla...ts%20Times.

[EvertonDiehard]

Sad to say we hv horrible regulators who only knows how to collect lucrative pay and waiting for problems to surface.

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.  

[EvertonDiehard]

"Singapore’s financial system has in recent years repeatedly played a part in international corruption scandals. Lee Hsien Yang said: “People need to look beyond Singapore’s bold, false assertions and see what the reality really is like.” He added: “There is a need for the world to look more closely, to see Singapore’s role as that key facilitator for arms trades, for dirty money, for drug monies, crypto money.”"

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? 

[Alice Alicia]

Not surprising.

From Ministers who pay themselves millions, masquerading as "salaries".

[EvertonDiehard]

Not surprising. From Ministers who pay themselves millions, masquerading as "salaries".

The pay increases are justified by the Govt on the grounds that the wages have to keep pace with those in the private sector to attract the best talent and to avoid corruption. If a politician has to be paid obscene wages to prevent him from stealing public funds, that does not make him honest. As the work in the private sector is far more intense than that of public administration, why benchmark against the former? 

[Gemstar]

The pay increases are justified by the Govt on the grounds that the wages have to keep pace with those in the private sector to attract the best talent and to avoid corruption. If a politician has to be paid obscene wages to prevent him from stealing public funds, that does not make him honest. As the work in the private sector is far more intense than that of public administration, why benchmark against the former? 

This is not the right analogy or excuse to set the wage benchmark of ministers pay. What kind of rubbish mindset. It is more of self entitlements even against public outlash.

[EvertonDiehard]

"I was born in a generation where every cent counts, so I believe we should spend our money wisely, and not on frivolities. Sometimes, I think our present Cabinet spends money on frivolities, and staging the F1 is my 'favourite' example" - Retired Permanent Secretary in the Prime Minister’s Office, Ngiam Tong Dow.

[Ola]

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.  

As long as they are rich, robbers are also welcome

It is to encourage money laundering, lah

Make sure they do not cause  property/ car/ retail prices to increase

[Scythian]

As long as they are rich, robbers are also welcome

It is to encourage money laundering, lah

Make sure they do not cause  property/ car/ retail prices to increase

Over 20 years, allowing corporation to setup Regional HQ solely for tax avoidance and evasion ..

Australia Royal commission reported over 1400 Aussie companies HQ in Singapore were paying Singapore Corporate Tax but zero tax to ATO.

[EvertonDiehard]

As long as they are rich, robbers are also welcome It is to encourage money laundering, lah Make sure they do not cause  property/ car/ retail prices to increase

The SG govt says that raising productivity is extremely difficult. So they have decided to invite ultra rich foreigners into SG to set up family offices. They park their money here as they see SG to be a tax haven, buy leasehold properties, then later, freehold after obtaining their pink ICs in record time. This drives up property prices, rent and of course COE premiums as the wealthy foreigners buy a fleet of luxury cars for every family member. 

[KILLjoy]

if you get to enjoy the confiscated money without any hardwork

why no welcome laundering?

these monies were used to generate gdp
and in return
generated good bonuses for the ruling party and all

who doesnt want these free monies?

if you get caught involving with these free monies
you get jailed

for them
its bonuses and all

good business module for them
but
not for you

[Scythian]

if you get to enjoy the confiscated money without any hardwork

why no welcome laundering?

these monies were used to generate gdp
and in return
generated good bonuses for the ruling party and all

who doesnt want these free monies?

if you get caught involving with these free monies
you get jailed

for them
its bonuses and all

good business module for them
but
not for you

Singapore in a mess as PM admits politics not as clean as country’s image..

[Scythian]

The SG govt says that raising productivity is extremely difficult. So they have decided to invite ultra rich foreigners into SG to set up family offices. They park their money here as they see SG to be a tax haven, buy leasehold properties, then later, freehold after obtaining their pink ICs in record time. This drives up property prices, rent and of course COE premiums as the wealthy foreigners buy a fleet of luxury cars for every family member. 

Singapore abides by international Law and rule of Law 

- PM Lee (2016)