Asia Sentinel

Asia Sentinel

Business/Economy

Singapore Must Toughen Chinese Family Office Supervision

Money laundering by China-born suspects highlights risks of ballooning family offices

Aug 30, 2023
∙ Paid
By: Toh Han Shih

The recent bust involving nearly US$1 billion in laundered money shows the need for tougher scrutiny of the fast-growing number of Chinese family offices in Singapore, with reports of the extravagant lifestyles of some of the suspects highlighting the glaring wealth disparity between rich Chinese emigres and many Singaporeans struggling …

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