May 4 2025, 05:26 PM
QUOTE(Cyberbullies @ May 4 2025, 04:51 PM)
Uhh...Singapore is a member of the OECD which enforces Common Reporting Standard (CRS) on members though?
They joined in 2017 so anything before that probably hush hush. Or maybe it's still hush hush but only for VVIP clients.
It used to be a financial laundering haven same like switzerland. once the US started cracking down, it has become much harder. I know cuz I talk to singkis who have to provide documentation on their bitcoin earnings or get their privilege banking accounts opening request rejected etc cuz lack of documentation. They joined in 2017 so anything before that probably hush hush. Or maybe it's still hush hush but only for VVIP clients.
the other thing ppl are missing out is that Sg did not launder the money itself, more like it provided the lax environment for the western banks to run their offshore laundering operations. that makes sense cuz all the big financial institutions are run by western interests and these are the places corrupt ASEAN leaders want to move their money to. When US cracked down on Switzerland it did so by targeting UBS.
now Sg still got illicit business, it just moved to more high tech chips
https://theedgemalaysia.com/node/753748
QUOTE
(May 2): Singaporean prosecutors secured eight more weeks to deepen a probe and potentially bring more charges against three men accused of fraud in shipping servers suspected of containing Nvidia Corp chips banned from China.
Prosecutors asked for an extension in court proceedings to gather more evidence and told the court on Friday they may bring additional charges. The judge set the next court hearing for June 27 and told the prosecution to present more evidence at that session.
The high-profile cases put Singapore and neighbouring Malaysia under the spotlight, with both countries starting investigations into whether chips subject to US export curbs were funnelled via them to restricted destinations. Advanced artificial intelligence chips developed by US firms from Nvidia to Advanced Micro Devices Inc are banned by the US from being shipped to markets including China.
Prosecutors asked for an extension in court proceedings to gather more evidence and told the court on Friday they may bring additional charges. The judge set the next court hearing for June 27 and told the prosecution to present more evidence at that session.
The high-profile cases put Singapore and neighbouring Malaysia under the spotlight, with both countries starting investigations into whether chips subject to US export curbs were funnelled via them to restricted destinations. Advanced artificial intelligence chips developed by US firms from Nvidia to Advanced Micro Devices Inc are banned by the US from being shipped to markets including China.
This post has been edited by diffyhelman2: May 4 2025, 05:27 PM
Quote
0.0136sec
0.40
7 queries
GZIP Disabled