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, 2020Singapore’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, 2020Hin 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, 2020Quick 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, 2020Since 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, 2019Two suspects are believed to have directly carried out unlicensed moneylending, while 94 provided them access to bank accounts to facilitate their activities.
July 17, 2019OCBC 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, 2019MAS-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