SINGAPORE: The President’s Challenge and Community Chest have collectively received donations of more than S$380,000 (US$279,000) from individuals with names similar to those who have been charged in the billion-dollar money laundering case.
Ten suspects were arrested in an islandwide anti-money laundering probe in August this year. The value of assets seized or frozen has since snowballed to over S$2.8 billion from the original S$1 billion.
Both charities did not name the suspects who had contributed the donations.
President’s Challenge has identified donations amounting to more than S$350,000 from individuals whose names are similar to those charged, the charity spokesperson said in a statement on Wednesday (Oct 11).
In a separate statement on Wednesday, Charmaine Leung, managing director of Community Chest, also said that the charity received S$30,000 in donations from people with similar names to suspects charged in court with money laundering offences.
Both charities said in their statements that they have filed police reports and suspicious transaction reports (STR).
They also said that donations that have been disbursed to benefiting agencies will not be affected.
Both charities added that they are working closely with the Commissioner of Charities to determine how to treat the donations.
Second Minister for Home Affairs Josephine Teo said in parliament on Oct 3 that some of the arrested individuals made donations to charities in Singapore.
She said then that some charities had decided on their own to ringfence these donations and others have made police reports and planned to surrender the money to the police.
"The Commissioner of Charities will issue an advisory to encourage all charities to review their donor records to ascertain whether they have received donations from the arrested individuals and entities linked to them, and file the requisite suspicious transaction reports."
This will also include advice to charities on how to handle the money, she added.
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Ten suspects were arrested in an islandwide anti-money laundering probe in August this year. The value of assets seized or frozen has since snowballed to over S$2.8 billion from the original S$1 billion.
Both charities did not name the suspects who had contributed the donations.
President’s Challenge has identified donations amounting to more than S$350,000 from individuals whose names are similar to those charged, the charity spokesperson said in a statement on Wednesday (Oct 11).
In a separate statement on Wednesday, Charmaine Leung, managing director of Community Chest, also said that the charity received S$30,000 in donations from people with similar names to suspects charged in court with money laundering offences.
Both charities said in their statements that they have filed police reports and suspicious transaction reports (STR).
They also said that donations that have been disbursed to benefiting agencies will not be affected.
Both charities added that they are working closely with the Commissioner of Charities to determine how to treat the donations.
Related:
Second Minister for Home Affairs Josephine Teo said in parliament on Oct 3 that some of the arrested individuals made donations to charities in Singapore.
She said then that some charities had decided on their own to ringfence these donations and others have made police reports and planned to surrender the money to the police.
"The Commissioner of Charities will issue an advisory to encourage all charities to review their donor records to ascertain whether they have received donations from the arrested individuals and entities linked to them, and file the requisite suspicious transaction reports."
This will also include advice to charities on how to handle the money, she added.
Related:
Continue reading...