SINGAPORE: A total of US$3.4 million was moved to Singapore in 2020 by scammers who exploited relaxed rules allowing remote registration of businesses during the first year of the COVID-19 pandemic. The scammers then transferred money they had stolen from overseas firms to Singapore.
Chinese national named Liang Jiansen, 33, was given a fine of S$9,000 for offences under the Companies Act on Monday for helping scammers register their companies in Singapore,Liang entered guilty pleas to two counts of failing to exercise reasonable diligence in his duty as a director.
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