SG: Bank statement omissions= Big loophole in anti-$$$-laundering laws???!!!

Discussion in 'Asia' started by Bic_Cherry, Aug 26, 2014.

  1. Bic_Cherry

    Bic_Cherry Active Member

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    Bank statement omissions= Big loophole in anti-$$$-laundering laws???!!!
    Either the Name/ Initials of the $$$ depositor account number (at least last 6 digits) should be stated or else the bank account number from where the transfer originated should be stated in the recipient's bank account statement. This will also give the CID/IRAS/ CPIB/ etc crime investigators much less trouble in tracing the source of funds and reduce the number of blog shop owners being scammed by tricksters who demand refunds for phantom $ transfers to blog-shop account, leveraging upon the lack of transparency, to scam blog-shop owners into granting refunds when no $ transfer for any payment had been originally made in the first place.

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