Singapore urges secrecy over origins of wealth flows—FT ...News

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Singapore urges secrecy over origins of wealth flows—FT
source : Russia Today ( News ) () 35
A reported directive to banks comes as wealthy Chinese citizens park billions on the island amid a corruption crackdown at home Regulators in Singapore have asked banks not to discuss the origins of large amounts of wealth flowing into the country over the past year, due to the booming presence of rich Chinese nationals, the Financial Times reported on Friday. The Monetary Authority of Singapore (MAS), the country’s central bank, gave the tacit directive during a banking sector meeting in February, the outlet claimed, citing multiple sources who attended. The MAS reportedly told banks not to single out any particu

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