SINGAPORE - Singapore's strict bank secrecy laws and status as a regional financial hub make it an "attractive destination" for terror groups to launder money, a US diplomatic cable released by WikiLeaks said.
The 2005 cable from the US mission in the city-state classified as "Confidential" assessed Singapore as having a "medium" risk of being used by terror groups to launder funds.
"Singapore's position as a significant financial and investment center, coupled with bank secrecy laws and the lack of routine currency reporting requirements, make it an attractive destination for terrorist organizations," the cable said.
The cable, published on the WikiLeaks website and seen on Friday, was signed off by then US ambassador Frank Lavin. Full story
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Singapore 'attractive' to terror finance: US cable - Yahoo! Singapore Finance
