Singapore regulators look into new Panama Papers data
( May 11, 2016, 08:28 GMT | Insight) -- Regulators in Singapore are looking into the latest data leaked in the so-called Panama Papers and have vowed to take action against people and entities found guilty of wrongdoing, the Straits Times reports. Regulators in Singapore are looking into the latest data leaked in the so-called Panama Papers and have vowed to take action against people and entities found guilty of wrongdoing, the Straits Times reports. A joint statement from the Ministry of Finance and the Monetary Authority of Singapore sent directly to media outlets came after the International Consortium of Investigative Journalists put data on some 200,000 offshore entities set up by wealthy individuals around the world onto a searchable online database. The leaked data includes records on thousands of Singapore-linked entities and individuals — including OCBC Trustee Ltd, DBS Bank and Boustead chief executive Wong Fong Fui — but regulators will only take supervisory and enforcement action if they find evidence that the offshore companies and trusts have been used illegitimately....
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