Actully when Singapore makes it in these kind of revelations, it draws positive PR as a tax haven. MAS and the Government has always made it known that it is indeed a tax haven with a rule of law. We even amended laws to accomodate the flow from the Swiss after the US intervention. Old man and GKS together created Asian Currency Unit in the 70s and it’s the bedrock that brought in funds from the region especially Indonesia and Malaysia.
I cannot recall a single instance where MAS has denied it and so has HK Central Bank. It’s a business model and necessary for being a financial centre.
But we have idiots who have no clue how we operate. They probably think that we have nearly all the banks in the World with branches here to serve the HDB heartland.