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Singapore Proposes to Strip Money Launderers of Directorships

Singapore Proposes to Strip Money Launderers of Directorships

Bloomberg2 days ago
Singapore is considering stripping directorships from persons who have been convicted of money-laundering offenses in the city state after a S$3-billion ($2.34 billion) scandal that dented the Southeast Asian country's reputation as a global financial center.
The government is seeking feedback on such a proposal from the public as it contemplates changes to several legislations, including the Companies Act 1967, the Ministry of Finance and the Accounting and Corporate Regulatory Authority said in a request for public comments on Monday.
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