新加坡30亿洗钱案8人出狱，王水明被驱逐至日本，其余前往柬埔寨

According to Odaily, the Singapore government is taking a series of actions to strengthen regulations following the exposure of a major money laundering case involving 30 billion yuan. The regulatory loopholes exposed by this case have prompted the government to take strict measures, including stringent scrutiny of family offices and hedge funds, and a significant cleanup of inactive family offices. New regulations require family offices to invest at least 10% of their total asset management or 10 million Singapore dollars (whichever is lower) in local investments. These investments include unlisted companies, private equity, and qualified debt securities. The move is part of the government's efforts to ensure financial stability and transparency in the country's financial sector.

Singapore's regulatory loopholes were exposed by a 3 billion yuan money laundering case. The government is taking a series of actions to strengthen supervision, including strict scrutiny of family offices and hedge funds, and vigorously cleaning up inactive family offices. The new regulations require family offices to invest at least 10% of their total assets under management or S$10 million (whichever is lower) in local investments, including unlisted companies, private equity and qualified debt securities. (Caixin)

According to Odaily, the Monetary Authority of Singapore (MAS) has recently published the '2024 Money Laundering Risk Assessment Report'. The report outlines Singapore's ongoing efforts to strengthen its anti-money laundering (AML) framework in response to an ever-changing risk environment. The report provides an extensive analysis of Singapore's primary money laundering (ML) risks, incorporating various qualitative and quantitative indicators related to threats, vulnerabilities, and control measures. It highlights major money laundering threats such as fraud, particularly online fraud, organized crime, corruption, tax crimes, and transaction-based money laundering. The report points out that due to the wide range of banking services and large transaction volumes, the banking sector faces the highest money laundering risk. Banks are often used for various types of money laundering, including self-laundering, third-party laundering, and the abuse of corporate and personal accounts to layer and integrate illegal funds. Furthermore, the report identifies significant risks associated with digital assets and cryptocurrencies. The assessment emphasizes that digital payment tokens (DPT) have become an emerging channel for money laundering. Criminals exploit these tokens through online fraud, ransomware, and dark web market transactions. To mitigate these risks, MAS has implemented strict regulatory measures under the Payment Services Act (PS Act). Digital payment token service providers must obtain a license and comply with anti-money laundering and counter-terrorism financing (CFT) requirements. MAS conducts regular thematic inspections and off-site supervision and issues guidance documents to raise industry awareness and control measures.

The Monetary Authority of Singapore (MAS) recently released the "Singapore Money Laundering Risk Assessment Report 2024". The report outlines Singapore's efforts to continuously strengthen its anti-money laundering (AML) framework in light of the changing risk environment. The report provides an extensive analysis of Singapore's major money laundering (ML) risks, incorporating various qualitative and quantitative indicators related to threats, vulnerabilities and controls, highlighting major money laundering threats such as fraud, especially cyber fraud, organized crime, corruption, tax crime and transaction-based money laundering. The report points out that the banking industry has the highest money laundering risk due to its wide range of services and large transaction volumes. Banks are often used for various types of money laundering, including self-laundering, third-party money laundering, and the misuse of corporate and personal accounts to layer and integrate illegal funds. In addition, the report also points out significant risks associated with digital assets and cryptocurrencies. The assessment highlights that digital payment tokens (DPTs) have become an emerging money laundering channel. Criminals exploit these tokens through cyber fraud, ransomware and darknet market transactions. To mitigate these risks, MAS has implemented strict regulatory measures under the Payment Services Act (PS Act). Digital payment token service providers must obtain a license and comply with anti-money laundering and counter-terrorism financing (CFT) requirements. MAS regularly conducts thematic inspections and off-site supervision, and publishes guidance documents to increase industry awareness and control measures. (Bitcoin.com)

According to BlockBeats, Singapore has updated its national risk assessment to emphasize significant risks in the anti-money laundering sector, particularly in the financial industry. Digital Payment Token (DPT) service providers pose a greater vulnerability. The 126-page report highlights new risk areas not included in the previous report published in 2014, including virtual asset service providers and gem and precious metal trading. The updated risk assessment underscores the evolving nature of financial threats and the need for constant vigilance and adaptation. The inclusion of Digital Payment Tokens (DPT) service providers and virtual asset service providers in the report indicates a growing recognition of the role these entities play in the financial landscape and the potential risks they pose. The report also brings attention to the trading of gems and precious metals, an area not previously considered a significant risk. This inclusion reflects the changing dynamics of the financial industry and the need to consider all potential avenues for money laundering. The report serves as a reminder of the importance of robust anti-money laundering measures and the need for constant updates to reflect the changing landscape of financial risks. It also highlights the need for all sectors, including emerging ones such as digital payment and virtual assets, to be vigilant and proactive in mitigating risks.

According to Odaily, Citigroup Inc., DBS Group Holdings Ltd., and other banks implicated in Singapore's largest money laundering scandal are intensifying their scrutiny of high-net-worth and potential clients to prevent the influx of illicit funds. Private bankers from several institutions are also undergoing additional training to help them detect tactics used by criminals to conceal their backgrounds and sources of funds. These voluntary measures indicate that the institutions are attempting to fill gaps in their client screening processes. The Monetary Authority of Singapore (MAS) recently completed on-site inspections of some of the banks involved in the case. Insiders suggest that after the review, banks with the most transactions with criminals, through deposit accounts, loans, and other financial services, are expected to face fines and other punitive measures from financial regulators. A MAS spokesperson stated that the authority would assess whether financial institutions have implemented sufficient and appropriate controls against money laundering and terrorist financing. If they fail to meet the requirements, action will be taken, as in past cases, and regulatory work is ongoing. Following the exposure of the money laundering case in August 2023, the Singapore government established an inter-ministerial committee to review its anti-money laundering system and strengthen the defenses of industries such as financial institutions, real estate intermediaries, and precious metal traders. In August of the previous year, Singapore cracked its largest money laundering case in recent years, with the arrest of the founder of Xinbao Investment, Su Baolin, and nine others. The ten foreign nationals arrested in the case are suspected of forging documents and money laundering, with the total value of the involved assets estimated at about 1 billion Singapore dollars. Preliminary judgments indicate that all ten individuals originally hail from Fujian Province, China.

According to on-chain analyst Ember, the Velocore hacker has laundered 1,807 ETH ($6.88 million) through Tornado Cash in the past 45 minutes.

Kamino posted on the X platform that points for the first quarter will be snapshotted on March 31 and calculated in the April KMNO token genesis distribution. Kamino said that the creation of KMNO is an important step in establishing the decentralized governance of Kamino Finance. The use cases of KMNO include controlling the protocol incentive plan and income distribution, conducting protocol operations and risk management, etc.

According to the official website, Polygon Bridge is now connected to the OKX Web3 wallet, and users can exchange assets across links on Polygon Bridge through OKX Web3. Polygon Bridge implements a two-way cross-chain channel between Polygon and Ethereum, allowing users to transfer funds (deposit) and return (withdraw) from Ethereum without incurring third-party risks and market liquidity restrictions. It is reported that OKX Web3 wallet is a one-stop Web3 portal that now supports 80+ public chains. App, plug-in and web page are unified, covering five major sectors: wallet, DEX, DeFi, NFT market, DApp exploration, and supports Ordinals market, MPC and AA smart contract wallets, exchange Gas, connect hardware wallets, etc.