The Chinese-origin criminals exploiting ultra-rich tax breaks expose gaps in the financial hub’s defences.
Investigations in Singapore are focusing on the role played by some single-family offices in the US$2 billion laundering scandal.
Authorities found that one or more of the accused in the case involving more than S$2.8 billion of assets, may have been linked to single family offices that were awarded tax incentives, minister of state Alvin Tan said in parliament on Tuesday. The laundering scandal, ballooning into one of the largest in the country, shines a light on potential loopholes and has ensnared major banks and property agents.
It’s unclear which of the 10 alleged criminals, all of Chinese origin and arrested in raids across the island in mid-August, were linked to which family offices.
Italia Ultime Notizie, Italia Notizie
Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.
Loving Elderly Chinese Couple Spotted Cleaning Up Late Son’s Grave After He Converted to IslamGood parents tend to love their children unconditionally, no matter if their child chooses to go down a different path than they did. An example of this was seen recently, though unfortunately, at a cemetery. The Negeri Sembilan kini Facebook page recently shared a post about an elderly Chinese couple, who was seen cleaning up […]
Leggi di più »
Malaysian Jeryl Lee wins Chinese singing competition show 'The Next 2023'KUALA LUMPUR, Oct 3 — Malaysian singer Jeryl Lee Pei Ling recently became the champion of Chinese variety show The Next 2023. The Penang-born emerged victorious in the final...
Leggi di più »
EU seeks to protect sensitive tech from Chinese buyersBRUSSELS, Oct 3 — The EU will signal today how Brussels will muscle up to counter China’s aggressive trade policies, including by unveiling a list of sensitive technologies...
Leggi di più »
Make travel easier for Chinese, Indian tourists, says think tankThe Socio-Economic Research Centre says visa-free travel or visa on arrival can potentially attract high-spending visitors.
Leggi di più »
Make travel easier for Chinese, Indian tourists, says think tankKuala Lumpur: The Socio-Economic Research Centre (SERC) has urged the government to facilitate travel for Chinese and Indian tourists by either offering them visa-free access, or at least simplifying their visa-on-arrival process.
Leggi di più »
Chinese Electric Cars Accelerate Ahead with 750,000 Units Sold in AugustThe domination of Chinese-made models in the list of top-sellers hints that local manufacturers are rising to the occasion
Leggi di più »