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Clarifying the Role of Local Resident Directors in Singapore
Only through institutional arrangements can the assumption that “local resident directors are not involved in company operations” be transformed into …
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Singapore’s New CSP Act Effective 9 June 2025: Strengthening AML Compliance and CDD Requirements
The Accounting and Corporate Regulatory Authority (ACRA) has announced that the Corporate Service Providers (CSP) Act and accompanying regulations wil…
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Singapore Man Jailed for 10 Months for Money Laundering Through Corporate Secretarial Companies
Singapore, February 2025 – A Singaporean man has been sentenced to 10 months in prison after the High Court found him guilty of serious compliance fai…
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Former Director of Corporate Service Provider Charged with 15 Counts Linked to $3 Billion Money Laundering Case
Singapore, January 2025 – A former director of a Corporate Service Provider (CSP) has been charged with 15 offences related to Singapore’s S$3 billion…
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Singapore Director of 980 Companies Jailed for Negligence in Money Laundering Case
In December 2023, Singaporean national Xie Yong, 37, was sentenced to four weeks in jail and fined S$57,000 after pleading guilty to 18 charges under …
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Lessons for CSPs: Singapore’s $2.8 Billion Money Laundering Case Underscores the Importance of Robust AML Compliance
On August 15, 2023, Singapore authorities uncovered a massive money laundering operation involving 10 foreign nationals originally from Fujian, China.…
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Two Singaporean Men Jailed for Acting as Directors of Over 100 Shell Companies in $20 Million Money Laundering Case
Singapore, December 2023 – Two Singaporean men have been sentenced to jail after acting as nominee directors for more than 100 shell companies, whose …
