Another scathing condemnation of Sinkieland aka Moneylaunderpore

[Papsmearer]

View in browser ​ Singapore’s Money-Laundering Scandal: Endemic to the System​ Banking secrecy tests international law and practice​ John Berthelsen Aug 24 ​ ​ ​ ​ READ IN APP ​ ​ Between 2020 and 2022, Singapore police investigated more than 19,000 suspected “money mules” who might be using their accounts to move drug money. About 250 were prosecuted, police told local media. Somehow, however, while authorities found the time to investigate 19,000 suspected money mules, they appear to have been unable for a much longer time to find Marimutu Sinivasan, Ulung Bursa, Atang Latief, Lidia Muchtar, Omar Putiray, Adisaputra, James Januardi and Agus Anwar. Those were the names of eight former Indonesian bankers who, according to Tempo Magazine in 2007, were believed to have stashed US$191.2 million in Singaporean banks and were living in the island republic. In fact, 18,000 Indonesians described as “rich” were living in Singapore worth a combined total of US$87 billion – more than Indonesia’s entire annual government budget. The Indonesians wanted their money and their bankers back. They never got them. Today, that figure is believed to have grown into the hundreds of billions of dollars, with nearly 40,000 high net worth Indonesians living in the country. While only a relatively small number may have moved stolen money across the Malacca Strait, there are plenty that should have raised suspicions under international Know Your Customer strictures recommended by the Basel Committee on Banking Supervision, the primary global standard setter for bank regulation. And Indonesians are far from alone. As has been reported numerous times, Zimbabwe’s former President Robert Mugabe, the late Philippine strongman Ferdinand Marcos, the jailed Taiwanese President Chen Shui Bian, the disgraced former French Budget Minister Jérôme Cahuzac, the now-deposed former Myanmar strongman Thien Sein, the jailed former Malaysian Prime Minister Najib Razak and many more have been identified as keeping stolen money in Singapore banks with impunity…​

 

[A Singaporean]

PAP is a fuck laundromat.

 

[laksaboy]

And the PAP regime gets so triggered when someone calls it out as a money laundering hub, it blocks a wrongthink news website as though it were a porno site.

Nothing a little DNS/proxy tweaking cannot bypass. Or just visit the archived webpage.

Archive link #1
Archive link #2

 

[Pinkieslut]

Whats wrong with making more money? Even US government just print money to spend more money.

 

[Willamshakespear]

Whats wrong with making more money? Even US government just print money to spend more money.

Money laundering is harmful to a civilized society, & so too those whom support money laundering.

Where did such huge funds to be laundered came from? It came from bribes/corruption, gangsterism/racketeering/protection money, drugs, scams, etc,

1. A building construction firm knows he has no chance to win a multi-million dollar housing project, as he has no economy of scale, skilled labor & quilified & experienced engineers, funds to buy material for the construction project. So he BRIBES his way to win the job. As he lacks everything needed, he cuts corners - shoddy workmanship, frightening engineering methods, poor quality materials, etc. etc.

Somehow, he manages to complete the project. Within 2yrs, those buildings in the project crumbled to dust. He ran away with billions of dollars EARNED from completing the project. Officials whom he bribed show legitimate earnings from 'cleaned' money for their expensive tastes in life. The ones who suffered were innocent owners who paid for homes & offices in the building project. men, women & kids, some whom perished....

2. 'Protection' money is a group of gangsters whom force biz owners to pay them a fee to ensure their biz are not harmed by others. If they do not pay up, the gangsters would harass the innocent owners & claim that it was another gang that was doing the harassments. $500/mth is what they ask for. Extrapolate it to just a mere 200.000 biz in Singapore ( ACRA:- est 570,000 biz in Singapore), it is = $100,000,000 PER MONTH.

As racketeering/gangsterism is a crime in Singapore, those gangs will not be able to show LEGITIMACY for their funds. Thus they turn to money laundering, to wash clean their funds. Who are the ones who suffers? Again, it is the innocents - biz owners, Free Market principles & Rule of Law.

For a sense of scale, $100 million/mth is a small figure in Singapore compared to bigger nations, as money laundering is NOT limited to Singapore. It is Worldwide. In China, there are est 48 MILLION biz. Based upon racketeering of $500/mth upon just a mere 10 Million China biz, it would be a staggering $2,500,000,000,000/mth or $2.5 TRILLION/PER MONTH. And such funds would have to be laundered in order to use it legitimately.

Such funds are truly dirty, as it came from the innocents, the trusting, their life savings, etc. Worse still is that Money Launderers are not doing such for the progress of Civilization, but to destroy it. When those huge amounts of funds are laundered clean, criminals would be able to bribe their way to power, rule over others, & ensure that any laws legislated are only for their own benefit & that will protect their wealth. They can even buy a private army to battle with national armies with such funds. Thus they are a danger to society & which is why civilized nations are determined to wipe out money launderers as well as their supporters.

It is with hope that AI may be the tech solution to hinder money laundering. There are trillions of transactions worldwide each day. No Human would be able to keep track or take note of suspicious activity, especially when launderers would use several different accounts to launder small amounts each day/hour. If one launderer has just 50 bank accounts, with est 1 million launderers worldwide, it would mean 50 million suspicious accounts to keep track of DAILY, on top of another Trillion bank transactions that are performed daily, It is NOT an easy task as some media org made it out to be.

 

[syed putra]

Its also a tax haven. Palm oil, coal, timber, manufacturing goods etc based in jiu hu or indonesua are traded in a marketing office in sinkie. The money did not return to where the actual commodity or products are manufactured. Only enough for operations are remitted back.

 

[k1976]

​ ​ View in browser ​ Singapore’s Money-Laundering Scandal: Endemic to the System​ ​ Banking secrecy tests international law and practice​ John Berthelsen Aug 24 ​ ​ ​ ​ ​ ​ READ IN APP ​ ​ Between 2020 and 2022, Singapore police investigated more than 19,000 suspected “money mules” who might be using their accounts to move drug money. About 250 were prosecuted, police told local media. Somehow, however, while authorities found the time to investigate 19,000 suspected money mules, they appear to have been unable for a much longer time to find Marimutu Sinivasan, Ulung Bursa, Atang Latief, Lidia Muchtar, Omar Putiray, Adisaputra, James Januardi and Agus Anwar. Those were the names of eight former Indonesian bankers who, according to Tempo Magazine in 2007, were believed to have stashed US$191.2 million in Singaporean banks and were living in the island republic. In fact, 18,000 Indonesians described as “rich” were living in Singapore worth a combined total of US$87 billion – more than Indonesia’s entire annual government budget. The Indonesians wanted their money and their bankers back. They never got them. Today, that figure is believed to have grown into the hundreds of billions of dollars, with nearly 40,000 high net worth Indonesians living in the country. While only a relatively small number may have moved stolen money across the Malacca Strait, there are plenty that should have raised suspicions under international Know Your Customer strictures recommended by the Basel Committee on Banking Supervision, the primary global standard setter for bank regulation. And Indonesians are far from alone. As has been reported numerous times, Zimbabwe’s former President Robert Mugabe, the late Philippine strongman Ferdinand Marcos, the jailed Taiwanese President Chen Shui Bian, the disgraced former French Budget Minister Jérôme Cahuzac, the now-deposed former Myanmar strongman Thien Sein, the jailed former Malaysian Prime Minister Najib Razak and many more have been identified as keeping stolen money in Singapore banks with impunity…

Why no PORFMA?

 

[k1976]

AMDK must be mouth in itchy and eye very very green de woh

 

[k1976]

They are bend to create noise during erection.

 

[Willamshakespear]

Its also a tax haven.

To money launderers, tax havens mean nothing to them. They are NEVER concerned about the National tax rates, as proven by their operations in Australia, discovered & charged. They have BILLIONS more in hiding, even under their beds, to be laundered. So what is even a 40% tax rate? Only the corrupted. foolish, greedy. lowly educated despots ruling in Caribbean islands would offer even free tax, let alone citizenship for just a few thousand corrupted dollars to remain in power to exploit its even lowly educated but ' free & easy' citizens. It is LEGITIMACY that money launderers want.

For example, let's use legalized Casinos. In today's age, there would be surveillance cameras everywhere unlike the past. The launderer would spend hrs there, & place bets based upon careful observations of winner & loser players/dealers. He cares not if he lost $200,000 in bets in one day. What he wants is a win of mere $100,000, to be exchanged for a LEGITIMATE official DOCUMENT from the LEGALIZED Casino, of which he can PROVE to authorities of his wealth.

It may seem beyond comprehension why he doesn't mind losing $200,000 to win $100,000. It seemed stupid. But the money launderer is FAR MORE intelligent. With the legal document from the legalized Casino, he can buy a car, & show to TAX AUTHORITIES & Banks where his SOURCE of income came from. It is just for ONE purchase. He can then USE THE SAME DOCUMENT to purchase a house, & relevant authorities would pursue NO FATHER, although it had already been $200,000 he had spent using the SAME document from the legalized Casino.

And he have BILLIONS more under his bed, to build up his WEALTH LEGITIMACY thru Casinos, established legitimate biz directorships, etc.

Thus it is NOT & NEVER tax rates that the money launderer worries about, or his clients, as such wealth are NOT their own hard earned money, expected to at least give off 30% in commissions or 'grease' money so that they will have 70% of the funds, which is NOT their money anyway, to LEGITIMATELY spend....

 

[mojito]

​ ​ View in browser ​ Singapore’s Money-Laundering Scandal: Endemic to the System​ ​ Banking secrecy tests international law and practice​ John Berthelsen Aug 24 ​ ​ ​ ​ ​ ​ READ IN APP ​ ​ Between 2020 and 2022, Singapore police investigated more than 19,000 suspected “money mules” who might be using their accounts to move drug money. About 250 were prosecuted, police told local media. Somehow, however, while authorities found the time to investigate 19,000 suspected money mules, they appear to have been unable for a much longer time to find Marimutu Sinivasan, Ulung Bursa, Atang Latief, Lidia Muchtar, Omar Putiray, Adisaputra, James Januardi and Agus Anwar. Those were the names of eight former Indonesian bankers who, according to Tempo Magazine in 2007, were believed to have stashed US$191.2 million in Singaporean banks and were living in the island republic. In fact, 18,000 Indonesians described as “rich” were living in Singapore worth a combined total of US$87 billion – more than Indonesia’s entire annual government budget. The Indonesians wanted their money and their bankers back. They never got them. Today, that figure is believed to have grown into the hundreds of billions of dollars, with nearly 40,000 high net worth Indonesians living in the country. While only a relatively small number may have moved stolen money across the Malacca Strait, there are plenty that should have raised suspicions under international Know Your Customer strictures recommended by the Basel Committee on Banking Supervision, the primary global standard setter for bank regulation. And Indonesians are far from alone. As has been reported numerous times, Zimbabwe’s former President Robert Mugabe, the late Philippine strongman Ferdinand Marcos, the jailed Taiwanese President Chen Shui Bian, the disgraced former French Budget Minister Jérôme Cahuzac, the now-deposed former Myanmar strongman Thien Sein, the jailed former Malaysian Prime Minister Najib Razak and many more have been identified as keeping stolen money in Singapore banks with impunity…

Realistically speaking if so much moneys are laundered through SG some of them are bound to stick to politicians, public service officials and other enablers. May be Looong can use this pretext to clean house stay around for a few more terms I am sure sinkies are supportive of this.

 

[Papsmearer]

To money launderers, tax havens mean nothing to them. They are NEVER concerned about the National tax rates, as proven by their operations in Australia, discovered & charged. They have BILLIONS more in hiding, even under their beds, to be laundered. So what is even a 40% tax rate? Only the corrupted. foolish, greedy. lowly educated despots ruling in Caribbean islands would offer even free tax, let alone citizenship for just a few thousand corrupted dollars to remain in power to exploit its even lowly educated but ' free & easy' citizens. It is LEGITIMACY that money launderers want.

For example, let's use legalized Casinos. In today's age, there would be surveillance cameras everywhere unlike the past. The launderer would spend hrs there, & place bets based upon careful observations of winner & loser players/dealers. He cares not if he lost $200,000 in bets in one day. What he wants is a win of mere $100,000, to be exchanged for a LEGITIMATE official DOCUMENT from the LEGALIZED Casino, of which he can PROVE to authorities of his wealth.

It may seem beyond comprehension why he doesn't mind losing $200,000 to win $100,000. It seemed stupid. But the money launderer is FAR MORE intelligent. With the legal document from the legalized Casino, he can buy a car, & show to TAX AUTHORITIES & Banks where his SOURCE of income came from. It is just for ONE purchase. He can then USE THE SAME DOCUMENT to purchase a house, & relevant authorities would pursue NO FATHER, although it had already been $200,000 he had spent using the SAME document from the legalized Casino.

And he have BILLIONS more under his bed, to build up his WEALTH LEGITIMACY thru Casinos, established legitimate biz directorships, etc.

Thus it is NOT & NEVER tax rates that the money launderer worries about, or his clients, as such wealth are NOT their own hard earned money, expected to at least give off 30% in commissions or 'grease' money so that they will have 70% of the funds, which is NOT their money anyway, to LEGITIMATELY spend....

Why even bother going into a casino and tediously spending time in there to lose $200k or more? Apparently, the MAS don't bother if you transfer in $millions into your Sing account. Other countries want to know where this type of money come from. But in Singapore, its not a problem. Najib did it, hordes of Myanmar generals did it, Indon rich did it, etc. Once the millions are in the account, you can already buy any houses or cars you want. Just pay cash for it. If you need a loan, banks will bend over backwards for high net worth clients like them. No need to set foot in casino

 

[Papsmearer]

Money laundering is harmful to a civilized society, & so too those whom support money laundering.

Where did such huge funds to be laundered came from? It came from bribes/corruption, gangsterism/racketeering/protection money, drugs, scams, etc,

1. A building construction firm knows he has no chance to win a multi-million dollar housing project, as he has no economy of scale, skilled labor & quilified & experienced engineers, funds to buy material for the construction project. So he BRIBES his way to win the job. As he lacks everything needed, he cuts corners - shoddy workmanship, frightening engineering methods, poor quality materials, etc. etc.

Somehow, he manages to complete the project. Within 2yrs, those buildings in the project crumbled to dust. He ran away with billions of dollars EARNED from completing the project. Officials whom he bribed show legitimate earnings from 'cleaned' money for their expensive tastes in life. The ones who suffered were innocent owners who paid for homes & offices in the building project. men, women & kids, some whom perished....

2. 'Protection' money is a group of gangsters whom force biz owners to pay them a fee to ensure their biz are not harmed by others. If they do not pay up, the gangsters would harass the innocent owners & claim that it was another gang that was doing the harassments. $500/mth is what they ask for. Extrapolate it to just a mere 200.000 biz in Singapore ( ACRA:- est 570,000 biz in Singapore), it is = $100,000,000 PER MONTH.

As racketeering/gangsterism is a crime in Singapore, those gangs will not be able to show LEGITIMACY for their funds. Thus they turn to money laundering, to wash clean their funds. Who are the ones who suffers? Again, it is the innocents - biz owners, Free Market principles & Rule of Law.

For a sense of scale, $100 million/mth is a small figure in Singapore compared to bigger nations, as money laundering is NOT limited to Singapore. It is Worldwide. In China, there are est 48 MILLION biz. Based upon racketeering of $500/mth upon just a mere 10 Million China biz, it would be a staggering $2,500,000,000,000/mth or $2.5 TRILLION/PER MONTH. And such funds would have to be laundered in order to use it legitimately.

Such funds are truly dirty, as it came from the innocents, the trusting, their life savings, etc. Worse still is that Money Launderers are not doing such for the progress of Civilization, but to destroy it. When those huge amounts of funds are laundered clean, criminals would be able to bribe their way to power, rule over others, & ensure that any laws legislated are only for their own benefit & that will protect their wealth. They can even buy a private army to battle with national armies with such funds. Thus they are a danger to society & which is why civilized nations are determined to wipe out money launderers as well as their supporters.

It is with hope that AI may be the tech solution to hinder money laundering. There are trillions of transactions worldwide each day. No Human would be able to keep track or take note of suspicious activity, especially when launderers would use several different accounts to launder small amounts each day/hour. If one launderer has just 50 bank accounts, with est 1 million launderers worldwide, it would mean 50 million suspicious accounts to keep track of DAILY, on top of another Trillion bank transactions that are performed daily, It is NOT an easy task as some media org made it out to be.

Boy, you are dumber then you look. AI simi lancheow used to hinder money laundering? Hey fucktard, all the AI in the world is useless when MAS and the PAP turn a blind eye and let in these money launderers and their billions of $. Most likely, certain high ranking officials are receiving bribes to let in all these dirty money. U need to stop eating shit, its fucking up your brain.

 

[laksaboy]

Realistically speaking if so much moneys are laundered through SG some of them are bound to stick to politicians, public service officials and other enablers. May be Looong can use this pretext to clean house stay around for a few more terms I am sure sinkies are supportive of this.

Come on now, where do you think those reserves came from? Hardworking Sinkies or PAP politicians creating wealth out of thin air?

Money laundering is the very foundation, the soul of this city-state.

The euphemism for this is 'financial hub'.

 

[batman1]

Confirmed Sg is a money laundering hub. Double confirmed.

 

[Willamshakespear]

Boy, you are dumber then you look. AI simi lancheow used to hinder money laundering? Hey fucktard, all the AI in the world is useless when MAS and the PAP turn a blind eye and let in these money launderers and their billions of $. Most likely, certain high ranking officials are receiving bribes to let in all these dirty money. U need to stop eating shit, its fucking up your brain.

1.None will deny the POSSIBILITIES of what you & I wrote. However, the DIFFERENCE between you & me is that YOU chose to SPECIFICALLY claimed that a SPECIFIC institution & a SPECIFIC political org are assisting in money laundering. The onus is upon you to provide EVIDENCES, otherwise you are merely spreading malicious lies amounting to slander & should be sued for defamation, should the authorities choose to do so.

However if you DO have CREDIBLE EVIDENCES of wrong doing, they will welcome your evidences & even REWARD you.

I guess, sadly, some old men just grow old & bitter, instead of growing up. Let us not throw the baby out of the window along with the bathwater. There are many MORE biz transactions by the trillions daily that are legitimate than the few illicit ones.


2. During the 70s & 80s, money laundering was not a hot button issue, nor were there international institutions that offered credible resources & help to
stem such activities, unlike today. Furthermore, there is NO law in the World that says political leaders or their kin cannot own or hold shares in companies. As such, so long as they show LEGITIMATE documents, they are welcome to park their funds here in Singapore. We have NO international jurisdiction to investigate overseas funds. It is up to their citizens to show evidences of wrong doings & only then can we assist them to recover such funds.

Similarly, in ex PM Najib's case, he was an ELECTED leader & his official statement on the LEGITIMACY of funds came from 'persian gulf donors'. Who is Singapore to deny him the right to park his fund here or investigate both him & persian gulf donors? It is up to Malaysians to investigate & show evidences that only then can Singapore assist. The same principles apply to Generals & leaders of resource rich Myanmar - agriculture, minerals, etc which are LEGITIMATE sources of income.

For example:- we all know ex-Prez Trump is a Billionaire. Are we to deny him to right of opportunity to park his funds here, to take advantage of our low tax regime & high bank interest rates just because he has unresolved issues with his own political class in USA?


3. To watch out for dubious bank transactions by the trillions DAILY, no Human or a huge group of Humans will be able to do so. AI tech is the only one whom can do so as it will be able to track multiple transactions from similar accounts every hour. It will take huge computing power as well as a vast amount of data storage servers to do so, provided ALL banks are linked to allow AI to keep track.

 

[Papsmearer]

1.None will deny the POSSIBILITIES of what you & I wrote. However, the DIFFERENCE between you & me is that YOU chose to SPECIFICALLY claimed that a SPECIFIC institution & a SPECIFIC political org are assisting in money laundering. The onus is upon you to provide EVIDENCES, otherwise you are merely spreading malicious lies amounting to slander & should be sued for defamation, should the authorities choose to do so.

However if you DO have CREDIBLE EVIDENCES of wrong doing, they will welcome your evidences & even REWARD you.

I guess, sadly, some old men just grow old & bitter, instead of growing up. Let us not throw the baby out of the window along with the bathwater. There are many MORE biz transactions by the trillions daily that are legitimate than the few illicit ones.


2. During the 70s & 80s, money laundering was not a hot button issue, nor were there international institutions that offered credible resources & help to
stem such activities, unlike today. Furthermore, there is NO law in the World that says political leaders or their kin cannot own or hold shares in companies. As such, so long as they show LEGITIMATE documents, they are welcome to park their funds here in Singapore. We have NO international jurisdiction to investigate overseas funds. It is up to their citizens to show evidences of wrong doings & only then can we assist them to recover such funds.

Similarly, in ex PM Najib's case, he was an ELECTED leader & his official statement on the LEGITIMACY of funds came from 'persian gulf donors'. Who is Singapore to deny him the right to park his fund here or investigate both him & persian gulf donors? It is up to Malaysians to investigate & show evidences that only then can Singapore assist. The same principles apply to Generals & leaders of resource rich Myanmar - agriculture, minerals, etc which are LEGITIMATE sources of income.

For example:- we all know ex-Prez Trump is a Billionaire. Are we to deny him to right of opportunity to park his funds here, to take advantage of our low tax regime & high bank interest rates just because he has unresolved issues with his own political class in USA?


3. To watch out for dubious bank transactions by the trillions DAILY, no Human or a huge group of Humans will be able to do so. AI tech is the only one whom can do so as it will be able to track multiple transactions from similar accounts every hour. It will take huge computing power as well as a vast amount of data storage servers to do so, provided ALL banks are linked to allow AI to keep track.

spoken like a true PAP ballslicker and some one who knows shit about the banking system in Singapore.

Flagging banking transaction in singapore is easier then shitting. Its all computerized wire transfers now. MAS flags transactions over $100K, that will already detect a lot of suspicious activity. Add another flag for transactions greater then this amount from tax shelter countries like Vanuatu, Bahamas, etc. and u can easily whittle down the really suspicious transactions. Don't have to bullshit people about trillions of daily banking transactions. Shows how stupid u are.

As for credible evidence of wrong doing, u are another shit for brains PAP balls licker. I 100% can find you credible evidence of wrong doing....... if MAS will make me sign a non disclosure agreement and open their books and transactions ledger to me. I will have a team of WP accountants in their office so fast it will astound them. Ravi will be shocked at the speed I can find these evidence. MAS runs the settlement, clearing, and payment systems in Singapore. U better believe they know every single dollar that flows into singapore. The fact that so many buggers are running around singapore buying GCB, and expensive cars with no proof of where they get these funds from, is prima facie evidence that MAS has simply turn a blind eye to them. When all other avenues of excuses have been exhausted, then what remains is the most logical answer. Some one or group of people are specifically allowing these dubious transactions to enter singapore. Since no one will do these dirty deeds for free, the logical assumption is they are receiving money for turning a blind eye. Which part are u confused with.

 

[oliverlee]

1.None will deny the POSSIBILITIES of what you & I wrote. However, the DIFFERENCE between you & me is that YOU chose to SPECIFICALLY claimed that a SPECIFIC institution & a SPECIFIC political org are assisting in money laundering. The onus is upon you to provide EVIDENCES, otherwise you are merely spreading malicious lies amounting to slander & should be sued for defamation, should the authorities choose to do so.

However if you DO have CREDIBLE EVIDENCES of wrong doing, they will welcome your evidences & even REWARD you.

I guess, sadly, some old men just grow old & bitter, instead of growing up. Let us not throw the baby out of the window along with the bathwater. There are many MORE biz transactions by the trillions daily that are legitimate than the few illicit ones.


2. During the 70s & 80s, money laundering was not a hot button issue, nor were there international institutions that offered credible resources & help to
stem such activities, unlike today. Furthermore, there is NO law in the World that says political leaders or their kin cannot own or hold shares in companies. As such, so long as they show LEGITIMATE documents, they are welcome to park their funds here in Singapore. We have NO international jurisdiction to investigate overseas funds. It is up to their citizens to show evidences of wrong doings & only then can we assist them to recover such funds.

Similarly, in ex PM Najib's case, he was an ELECTED leader & his official statement on the LEGITIMACY of funds came from 'persian gulf donors'. Who is Singapore to deny him the right to park his fund here or investigate both him & persian gulf donors? It is up to Malaysians to investigate & show evidences that only then can Singapore assist. The same principles apply to Generals & leaders of resource rich Myanmar - agriculture, minerals, etc which are LEGITIMATE sources of income.

For example:- we all know ex-Prez Trump is a Billionaire. Are we to deny him to right of opportunity to park his funds here, to take advantage of our low tax regime & high bank interest rates just because he has unresolved issues with his own political class in USA?


3. To watch out for dubious bank transactions by the trillions DAILY, no Human or a huge group of Humans will be able to do so. AI tech is the only one whom can do so as it will be able to track multiple transactions from similar accounts every hour. It will take huge computing power as well as a vast amount of data storage servers to do so, provided ALL banks are linked to allow AI to keep track.

just look at F1 and the latest billion dollor Tiong scam, don't have to say more. Both have been on going sagas ad infinitum. Which intelligence unit in the world can scramble together overnight and dig out 8 men mostly from the same family, and arrest them for white collar crime? Even if you suspect your next door neighbour has been stealing from you, you'd need time to observe, and gather evidence. It just means someone has known his underlings have been fucking each other for a long time but has chosen to turn a blind eye. Don't be a PAP cheebai, open your eyes

 

[nightsafari]

Money laundering is harmful to a civilized society, & so too those whom support money laundering.

Where did such huge funds to be laundered came from? It came from bribes/corruption, gangsterism/racketeering/protection money, drugs, scams, etc,

1. A building construction firm knows he has no chance to win a multi-million dollar housing project, as he has no economy of scale, skilled labor & quilified & experienced engineers, funds to buy material for the construction project. So he BRIBES his way to win the job. As he lacks everything needed, he cuts corners - shoddy workmanship, frightening engineering methods, poor quality materials, etc. etc.

Somehow, he manages to complete the project. Within 2yrs, those buildings in the project crumbled to dust. He ran away with billions of dollars EARNED from completing the project. Officials whom he bribed show legitimate earnings from 'cleaned' money for their expensive tastes in life. The ones who suffered were innocent owners who paid for homes & offices in the building project. men, women & kids, some whom perished....

2. 'Protection' money is a group of gangsters whom force biz owners to pay them a fee to ensure their biz are not harmed by others. If they do not pay up, the gangsters would harass the innocent owners & claim that it was another gang that was doing the harassments. $500/mth is what they ask for. Extrapolate it to just a mere 200.000 biz in Singapore ( ACRA:- est 570,000 biz in Singapore), it is = $100,000,000 PER MONTH.

As racketeering/gangsterism is a crime in Singapore, those gangs will not be able to show LEGITIMACY for their funds. Thus they turn to money laundering, to wash clean their funds. Who are the ones who suffers? Again, it is the innocents - biz owners, Free Market principles & Rule of Law.

For a sense of scale, $100 million/mth is a small figure in Singapore compared to bigger nations, as money laundering is NOT limited to Singapore. It is Worldwide. In China, there are est 48 MILLION biz. Based upon racketeering of $500/mth upon just a mere 10 Million China biz, it would be a staggering $2,500,000,000,000/mth or $2.5 TRILLION/PER MONTH. And such funds would have to be laundered in order to use it legitimately.

Such funds are truly dirty, as it came from the innocents, the trusting, their life savings, etc. Worse still is that Money Launderers are not doing such for the progress of Civilization, but to destroy it. When those huge amounts of funds are laundered clean, criminals would be able to bribe their way to power, rule over others, & ensure that any laws legislated are only for their own benefit & that will protect their wealth. They can even buy a private army to battle with national armies with such funds. Thus they are a danger to society & which is why civilized nations are determined to wipe out money launderers as well as their supporters.

It is with hope that AI may be the tech solution to hinder money laundering. There are trillions of transactions worldwide each day. No Human would be able to keep track or take note of suspicious activity, especially when launderers would use several different accounts to launder small amounts each day/hour. If one launderer has just 50 bank accounts, with est 1 million launderers worldwide, it would mean 50 million suspicious accounts to keep track of DAILY, on top of another Trillion bank transactions that are performed daily, It is NOT an easy task as some media org made it out to be.

Now that you've done such an excellent job identifying the evils of money laundering, how do you as a Singaporean personally feel about living in a country with it's high GDP and developed status? How do you feel about calling yourself Singaporean and knowing that a good portion of your wealth and benefits accrue from your government offering a safe haven for such monies?

 

[nightsafari]

Realistically speaking if so much moneys are laundered through SG some of them are bound to stick to politicians, public service officials and other enablers. May be Looong can use this pretext to clean house stay around for a few more terms I am sure sinkies are supportive of this.

Loong clean house?

What you smoking you can share with me?

He's the principal looking for more of these "wealthy contributors to Singapore's economy".