Reading Time: 10 minutesIntroduction In Interush Ltd v Commissioner of Police [2019] HKCA 70, the Court of Appeal (“CA”) has rejected an argument that two money laundering offences, namely sections 25 and 25A of the Organized and Serious Crimes Ordinance (Cap. 455) (“OSCO”) under the so called “no consent regime” or “informal freezing” of assets, infringe the property rights and […]
What constitutes money laundering?
Reading Time: 9 minutesMoney makes the world go around. This phrase very aptly describes the reason behind the innumerable safeguards against money laundering. Money laundering can be defined as the process of converting money obtained from criminal activities into money that appears to have been obtained from legitimate means. The issue of money laundering has been in the […]
White-Collar Crimes in Singapore: Tales of Terrible Lessons (Part 1 of 3)
Reading Time: 7 minutesIn a three-part series, lawyer Edmund Lam shares more about white-collar crimes and illustrations of the different types of white-collar crimes. In the first part of this series, Edmund shares more about white-collar crimes and provides illustrations on money laundering and signing of false certificates. To many of us, white-collar crime stories seem to be […]
INDONESIA: Payment Transaction Processing Framework-Introduction from Our Perspective (Part 1)
Reading Time: 10 minutesOn 14 November 2016 Bank Indonesia (“BI”), the Central Bank governing body in Indonesia, issued the Bank Indonesia Regulation No. 18/40/2016 concerning Framework of Payment Transaction Processing (Peraturan Bank Indonesia Nomor 18/40/2016 Tahun 2016 tentang Penyelenggaraan Pemrosesan Transaksi Pembayaran / “BI Regulation 18/2016”). We applaud the efforts made by BI to respond efficiently, swiftly and […]
Financial Institutions: 3 Ways the Singapore Government Is Intensifying Anti Money Laundering Efforts
Reading Time: 6 minutesSingapore’s reputation as a global financial centre makes it susceptible to cross-border money laundering activities. In response, the Singapore government has stepped its efforts to protect the system’s integrity, in three ways. This article is written by Shashi Nathan and originally published in The Business Times. The “Article in 60 Seconds” is contributed by Leanne Cheng. […]