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.
Chinese money is pouring into funds invested in offshore assets at breakneck speed, butting up against outbound investment limits and complicating Beijing’s efforts to revive domestic markets
A woman in London is on trial for laundering crypto worth billions of dollars, stolen from Chinese investors.The UK’s National Crime Agency is expanding its capabilities to combat cryptocurrency fraud.The
The coalition behind the state’s “Fair Share Amendment,” or millionaire’s tax, is pushing for increased taxes on “billionaire global corporations” and calling on lawmakers to use the state’s
Standard Chartered, KPMG, and the United Nations Office for Disaster Risk Reduction (UNDRR) are urging for a significant increase in the mobilisation of funds for adaptation and resilience, especially