GIR takes an inside-out look at the reality of doing investigations in Singapore, as well as the government’s efforts to step up enforcement.
A day after the DOJ unveiled its largest-ever kleptocracy case, Singapore authorities announced the seizure of an additional US$177 million in 1MDB-related assets and accused four banks that handled transactions linked to the embattled Malaysian investment fund of anti-money laundering failings.
On 24 May lawyers and in-house counsel from around Asia gathered for GIR Live in Singapore. Here is a selection of pictures from the day.
With anti-corruption authorities in Indonesia shifting focus to the supply side of bribery, lawyers at GIR Live Singapore describe the often counterintuitive steps to take when investigating there.
Contrary to allegations of lax regulation in the wake of the Petrobras and 1MDB scandals, Singapore has substantially overhauled its tax and anti-money laundering regimes in recent years, says one of the city-state’s leading white-collar lawyers.
The establishment of new enforcement and money-laundering departments at the Monetary Authority of Singapore may be a reaction to possible communications failings that affected the agency’s oversight of Switzerland’s BSI Bank.
Singapore is discussing new anti-money laundering and data protection laws that will affect what information can be reported to foreign authorities.
Following a couple high-profile international scandals and related enforcement actions by local authorities, signs are it’s all change for Singapore, and by extension, for the local investigations bar. By Marieke Breijer and Rahul Rose