The Monetary Authority of Singapore said it’s committed to safeguarding the city-state’s financial system from being used as a haven to harbor illegitimate funds or as a conduit to disguise the flow of such funds.
“While MAS is committed to maintaining an open financial system, it will not tolerate the use of the financial system to conduct criminal and illegitimate activities,” according to an e-mailed statement today.
The comments come as regulators in the U.S. and Europe have been cracking down on tax evasion. Full story
