The US Department of the Treasury has imposed sanctions against Singapore-based companies and their director for evading sanctions targeting North Korea.  Tan Wee Beng, the director and shareholder of a Singapore-based commodities trading company Wee Tiong Holdings is accused of hiding the origin of payments and structuring transactions in order to help acquire goods for […]

Standard Chartered’s branch in Singapore has been fined $3.94 million for breaching anti-money laundering and terrorist financing rules. Transactions that took place between 2015 and 2016 between Guernsey and Singapore ($1.4 billion) suggested that the clients may have been trying to avoid common reporting standards. The clients involved in the transactions had links to the […]