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