The influx of family offices handling money of Chinese origin has slowed in the wake of Singapore’s multibillion-dollar money-laundering scandal
Tighter checks for new applicants are partly to blame – but the city state’s elevated property prices and higher stamp duty aren’t helping, either.
In Singapore, the growth of Chinese family offices has been slowing amid the fallout from last year’s multibillion-dollar money-laundering scandal and tighter checks on new applicants.
More than S$3 billion (US$2.2 billion) in assets have been seized so far in connection with the sprawling case, which first hit the headlines in August last year when 10 China-born suspects were arrested.
In a significant move to enhance the Internal Revenue Service’s (IRS) capabilities, President Joe Biden has proposed a $12.3 billion budget for the IRS in fiscal year 2025. This funding level matches
Malta must improve its implementation of three key anti-money laundering issues before it can be taken off a global watchdog’s financial crime grey list. The three points form part of an action plan
The Internal Revenue Service has wrapped up its annual Dirty Dozen campaign, which it self-proclaims as “the worst of the worst” tax scams. The last few scams in the series leave a lot to be unpacked.
With an investment of $65 million, the Development Bank of Latin America and the Caribbean (CAF) together with the Development Finance Institution of Canada (FinDev Canada) and IDB Invest will promote