Singapore is forming an inter-ministerial committee to bolster its anti-money laundering regime in response to rising financial crime sophistication.
Led by Second Minister for Finance Indranee Rajah, this committee aims to enhance AML measures in collaboration with sectoral regulators.
In a recent money laundering case, Singapore defends its status as a global financial hub after seizing over US$2 billion in assets, prompting a review of anti-money laundering laws.
Second Minister for Finance and National Development, Indranee Rajah, clarified that none of the properties subjected to prohibition orders in the S$2.8 billion money laundering case are mainland landed residential properties, which have stricter approval criteria.
On Tuesday, Singapore’s Parliament rejected NCMP Hazel Poa’s motion, which sought to suspend Transport Minister S. Iswaran from his parliamentary role for the remainder of the 14th Parliament session.
However, the debate’s conclusion hasn’t halted discussions on social media, with some supporting Progress Singapore Party (PSP)’s motion, while others echo the position by the Leader of the Opposition, emphasizing the importance of due process.
Has the Progress Singapore Party (PSP) highlighted a significant oversight in tabling a motion to suspend Transport Minister S. Iswaran’s MP allowance, especially in light of his abstention from duties and the ongoing investigations by the Corrupt Practices Investigation Bureau (CPIB)?
During the parliamentary debate on Tuesday, Ms Poa raised a compelling point: Is it justifiable for taxpayers’ funds to support an MP’s salary when he voluntarily refrains from his duties?
With the motion’s rejection, a pressing question remains: How can an MP continue to draw a salary, with no legislative provision allowing for its recovery, should he be later found guilty?
Singapore’s ruling party lawmakers have rejected the opposition’s motion to suspend Transport Minister S Iswaran from Parliament amid an ongoing corruption probe.
NCMP Hazel Poa of the Progress Singapore Party argued for the suspension, citing concerns about the prudent use of taxpayer funds and the position to be taken on investigations into serious offenses such as corruption.
Indranee Rajah, Leader of the House has filed a distinct motion in response to PSP Hazel Poa’s motion which sought to advocate that Parliament address Minister S Iswaran’s annual S$192,500 MP pay only after the conclusion of the CPIB investigations.
Ms Indranee’s motion calls on the House to resolve to consider the matter concerning Minister Iswaran once the outcome of the ongoing investigations against him becomes known.
Lim Tean, leader of Peoples Voice, vehemently criticized Indranee’s decision, “Do you think if you are being investigated by the CPIB, or you have been charged and you have been suspended by your employer, you will continue getting your pay?”
Tan Chuan-Jin, the former Speaker of Parliament, has retracted his unparliamentary remarks, apologising formally to the House and the public. Leader of the House, Indranee Rajah, delivered the apology, declaring that no further action was necessary. The apology follows Mr. Tan’s recent resignation from the People’s Action Party following an extramarital affair.