Despite rigorous checks in place, financial criminals can evade detection by exploiting human nature, say Terence Lam and Ng Shi Zhen of the Institute of Singapore Chartered Accountants.
In the recent case, the suspects had allegedly laundered proceeds from overseas organised criminal activities including scams and online gambling, forged documents to substantiate the source of funds in multiple bank accounts, and eventually, used the laundered funds to buy assets.
Perpetrators of such crime typically require professional advice and assistance. Therefore, accountants, lawyers, and financial advisers are part of an unassuming first line of defence in the fight against financial crime.
Accountants must also conduct due diligence checks on prospective or existing clients. Such checks enable accountants to know who they are dealing with and gauge money laundering risks. This helps them in the effective identification and reporting of suspicious activities. In one case, an 18-year-old woman agreed to an online investment scheme on Telegram which offered her at least S$10,000 in return for using her two bank accounts. One of her bank accounts was found to have been used for laundering criminal proceeds.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Commentary: Why is Malaysia tangled up in a spying case in Norway?Major powers may seek to exploit blind spots in target intelligence agencies by recruiting agents from unexpected regions, says a security analyst.
続きを読む »
Commentary: Is finding wallet-friendly and nutritious hawker food a Herculean task?Coffee shop and hawker food are notorious for being carb-heavy and fat-laden. With more budget meals coming, eating healthy is all about making the right choices, say Susan Tan and Nurliyana Daros from the Society of Behavioural Health, Singapore.
続きを読む »
Commentary: India needs to take Sikh leader's murder in Canada seriouslyRather than simply denying involvement, India should cooperate as publicly as it can in the investigation of the murder of a Sikh leader in Canada, says Mihir Sharma for Bloomberg Opinion.
続きを読む »
Commentary: Why is Beijing sensitive about clothes that ‘hurt the feelings of the Chinese nation’?The ambiguous nature of proposed revisions to China’s public security law could be open to arbitrary interpretation and selective implementation, say Tiong Wei Jie and Li Mingjiang of S Rajaratnam School of International Studies.
続きを読む »
Commentary: What parents should bear in mind when giving their kids an allowanceInstead of setting an allowance, many parents decide to give money on demand to their children.
続きを読む »
Commentary: Here’s why seniors with hearing loss need to treat it earlyHearing loss has an adverse impact on not only patients’ quality of life, but also their brains, says ENT surgeon Dr Rebecca Heywood.
続きを読む »