All posts tagged "Singapore Police"
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876EnforcementSingapore Police Lay Second Charge Against Hin Leong Founder
The second charge is for a forged email that was used alongside an inter-tank transfer certificate to secure more than $56mn in trade financing.
September 29, 2020 -
1.6KAML / KYCSingapore Police Raid ZenRock Following HSBC Allegations of Fraud
Singapore’s High Court has reportedly appointed KPMG executives as interim judicial managers to oversee a transition to new management at ZenRock Commodities, an oil trading firm.
May 10, 2020 -
824EnforcementSingapore Police Open Probe into Renowned Oil Trader
Hin Leong Trading's founder admitted to concealing $800mn in losses from oil futures. The firm now unpaid debts of $3.85bn. Up to 23 banks are affected.
April 22, 2020 -
1.7KAML / KYCSingapore: Suspect Arrested in Covid-19 Money Laundering Case
Quick intervention by seven banks allowed enabled the recovery of more than 60% of the amount scammed in the fraudulent sale of surgical masks and hand sanitisers.
April 7, 2020 -
824AML / KYC
Singapore Police, Banks Collaborate to Thwart Scammers
Since the Anti-Scam Centre was set up in June, DBS, OCBC and UOB have frozen 815 bank accounts and recovered S$840,000 in scam-related losses.
September 3, 2019 -
465Enforcement
Singapore Loansharking Raids Result in 129 Arrests
Two suspects are believed to have directly carried out unlicensed moneylending, while 94 provided them access to bank accounts to facilitate their activities.
July 17, 2019 -
898AML / KYCOCBC Received Police Award for Foiling Fraud Attempt
OCBC was able to recover $205,000 from a Malaysian bank after a transaction was flagged by its fraud surveillance unit as not fitting the client's usual patterns.
April 15, 2019 -
628AML / KYCSingapore Releases AML/CTF Best Practice Papers
MAS-CAD industry partnership on AML/CFT released best practices papers to help financial institutions guard against trade-based money laundering and the misuse of company structures for illicit purposes.
May 17, 2018
