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White Collar Crimes on the Rise in Singapore: What You Need to Know

Introduction

In recent years, Singapore’s authorities have been cracking down on white-collar crimes, with a significant increase in investigations and funds seized. White-collar crimes typically occur in a corporate context and involve individuals attempting to gain an unfair economic or business advantage.

Types of White-Collar Crimes

White-collar crimes are punishable under various statutes, including the Companies Act, Betting Act, Financial Advisers Act, and Prevention of Corruption Act. Some common types of white-collar crimes include:

  • Money laundering
  • Embezzlement
  • Forgery

Employing a White Collar Crime Lawyer in Singapore: A Must for Navigating Complex Cases

If you or someone you know has been accused of a white-collar crime, it is essential to seek the expertise of a qualified white-collar crime lawyer in Singapore. With their knowledge and experience, they can help navigate the complex legal landscape and achieve the best possible outcome.

Examples of White-Collar Crimes in Singapore

Money Laundering

Money laundering involves obtaining income through criminal or illegitimate means, but making it appear as if it comes from a legitimate source. In Singapore, money laundering is prosecuted under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act.

Criminals often attempt to launder money acquired from drug trafficking and other illegal activities by purchasing property or shifting funds outside of Singapore. These kinds of offences are charged under sections 46(1) and 47(1) of the act. Additionally, benefiting from someone else’s money laundering scheme or abetting such an offence can result in serious charges.

Embezzlement

Embezzlement is a theft that utilises property one does not own to gain an illegal benefit. For example, an employee who uses company property for personal gain may have committed embezzlement. Under Section 405 of the Penal Code, someone who commits embezzlement is liable for Criminal Breach of Trust, which requires three elements:

  • The property was entrusted to fulfill requirements based on an express or implied contractual term or law.
  • The entrusted property was misappropriated or converted for personal use.
  • The offender acted with the dishonest intention of wrongful gain or intentionally causing wrongful loss to someone else.

Forgery

Forgery involves creating or changing a document to suit fraudulent needs. Pursuant to Section 462 of the Penal Code, a person charged with forgery must have created this false document with underhanded intentions, ranging from causing public damage, obtaining property deceptively, supporting a false claim, or allowing fraud to occur.

Expert Assistance for White-Collar Crimes in Singapore

For expert assistance regarding white-collar crimes, consult our experienced white-collar crime lawyers in Singapore. They can provide you with the necessary guidance and support to navigate these complex legal matters and achieve the best possible outcome.