Wednesday, December 07, 2016

Something's rotten in Singapore





No 1MDB to blame this time 
KL, Dec 7: Is there something rotten in Singapore? Repeated financial scandals and deep-set financial deviances seem to suggest a major breakdown of compliance and serious oversight in a global financial centre. Previously, they had 1MDB to conveniently blame (for cases in that actually concerned internal processes flaws, including money laundering lapses, on the part of several international financial units based in Singapore).  
In the latest case involving Swiber, though, there's no Malaysian scapegoat to help hide the embarrassment!





Read also:
Swiber directors out on bail as CAD probes alleged breach of disclosure laws, Dec 6
Finma: BSI in serious breach of money laundering regulations, May 24
Regulators accuse Swiss bank BSI over 1MDB scandal, May 25
Malaysian John Soh Chee Wen arrested in Singapore over securities fraud, Nov 24
Singapore issues fines, seeks to ban former Goldman Sachs banker in 1MDB case, Dec 2

Bonus track:
This is what is wrong in Singapore. Now, are you willing to see it? 



3 comments:

xnakdedak said...


Latuk, Latuk.

Lazy with you is a given, but what's with the lack of logic?

"Previously, they had 1MDB to conveniently blame (for cases in that actually concerned internal processes flaws, including money laundering lapses, on the part of several international financial units based in Singapore). In the latest case involving Swiber, though, there's no Malaysian scapegoat to help hide the embarrassment!"

This is as logical as saying a rape victim (and we've all been molested financially by Senor PinkLips) is "to blame" for the incarceration of the rapist.

Great info coming out of the Singapore cases.

PS: Both Senor PinkLips and Arul lied about BSI. PinkLips lied in Parliament. Look it up. You're a journalist, aren't you : )

rahman said...

dtk rocky, the question i would like to ask is, are they hiding anything? is action being taken? how fast did they react?
pls compare the way we handled issue and the way action being taken in their country.

Saudagar Mimpi said...

Smoking pot again bro?