Singapore intensifies fight against money laundering
Singapore will intensify measures to fight money laundering and terrorism financing in response to the latest warnings of the Financial Action Task Force (FATF).
Singapore (VNA)⛦ – Singapore will intensify measures to fight money laundering and terrorism financing in response to the latest warnings of the Financial Action Task Force (FATF).
In a joint statement released on September 27, the Ministry of Home Affairs, the Ministry of Finance and the Monetary Authority of Singapore (MAS) said law enforcement agencies would strengthen their capabilities to identify and investigate transnational money-laundering cases.
The country also calls for stronger intergovernmental cooperation, including intelligence sharing and stricter law enforcement in the fight.
According to the FATF, Singapore should more aggressively target the more complex cases expected of a sophisticated financial centre, including trade fraud and transactional corruption.
The MAS has carried out sanctions against 27 financial organisation for crimes relating to money laundry and terrorist financing over the last three years.
On July 21, the authority withdrew the licence of Switzerland's BSI Bank, which has been linked to the 1MDB fund and announced its plan to investigate four other banks. It also froze 117 million USD in assets through investigation into the 1MDB.
Along with strengthening the monitoring of financial organisations to prevent money laundry and illegal financial activities, the authority has also bolstered measures to ensure transparency, and trust of the country’s financial system.-VNA
Singapore’s Police Coast Guard have been equipped with two new patrol boats that will aid the force’s fight against maritime crime and counter-terrorism capabilities.
Nearly 12,000 dengue cases have been reported since the beginning of this year in Singapore, the Ministry of Health and the National Environment Agency (NEA) reported on September 27.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Singapore's Marina Bay (Photo:straitstimes.com)
