FINANCIAL SERVICES | Staff Reporter, Singapore

Singapore toughens white-collar crime crackdown

The move follows high-profile cases like Singaporean financiers' link to the 1MDB.

According to Bloomberg, Singapore says it’s getting more serious about tackling white-collar crime. The police force’s financial crime-fighting unit -- the Commercial Affairs Department -- has declared a goal to target ill-gotten gains “more proactively,” especially those from overseas.

The crackdown follows several high-profile cases, notably an investigation into links between financiers in the city state and the troubled Malaysian state fund known as 1MDB. At stake is the Southeast Asian nation’s reputation as a safe -- and responsible -- hub for finance and business.

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