The Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (“CDSA”) is the primary legislation which criminalises laundering of benefits from serious criminal offences by individuals and legal entities in Singapore. It is also the source of the Singapore Police Force’s (which includes the Commercial Affairs Department (“CAD”) and the Corrupt Practices Investigation…
Cryptocurrency Scams
Cryptocurrencies are not legal tender in Singapore. They do not have intrinsic value and are often subject to sharp price swings driven by speculation. Cryptocurrency providers and exchanges in Singapore are regulated by the Monetary Authority of Singapore (“MAS”) and are subject to anti-money laundering and counterterrorist-financing rules. Payment Services Act 2019 Cryptocurrencies are classified…
CAD Has Called Me to Attend an Interview. What Should I Do?
Singapore is a well-established international business hub and the Commercial Affairs Department (“CAD”) works to clamp down abuses to our financial ecosystem. The CAD specialises in investigating white-collar crimes, cases involving money laundering, terrorism financing, as well as cyber-enabled scams on social media and e-commerce websites. If the CAD has contacted you to attend an…
Today Online: Innocent Until Proven Guilty? Not Necessarily So In Society’s Eyes
By Louisa Tang SINGAPORE — Mr Tan Kah Heng had banked on his newly opened bubble tea shop to help pay for his younger son’s university education overseas. But his plan was derailed after two of his employees accused him of molesting them. After the two alleged victims filed police reports against him in late-2017, he…
Notice of Arbitration
Commencing Arbitration Proceedings: Notice of Arbitration A Notice of Arbitration is a document that signifies a party’s intention to refer a dispute to arbitration. It is the first formal step in an arbitration. A simple analogy to a Notice of Arbitration is the Writ of Summons in Singapore’s litigation process, which is a document that…
Service Out of Jurisdiction & Setting Aside Service for Irregularities
What is Service – A General Overview The word “service”, in the legal context, refers to the delivery of the very first set of court documents (also known as ‘originating process’) to the person who is being sued. For example, A wants to sue B for unpaid debts. A has to engage a lawyer to…
Summary Judgment Or Order 14 Proceedings
What is Summary Judgment or Order 14 proceedings? When a person has been sued (i.e. a defendant) and has: but it is clear that the defendant does not have a real defence to the claim, i.e. the claim is clearly uncontestable, then the plaintiff may apply to court to obtain judgment against the defendant in…
Garnishee Proceedings In Singapore – A Lawyer’s Guide
What Are Garnishee Proceedings? In Singapore, when a creditor obtains a favourable judgment against a debtor, and the debtor refuses to comply with the judgement, there are a variety of enforcement methods available to the creditor which are typically executed for the creditor by a litigation law firm in Singapore. Garnishee Proceedings are one such method. Here’s…
Startups: Taking In Your First Investment
The Process After a company is incorporated, the founders would typically look to obtain funding to bring their ideas to life. However, creating that minimal viable product to attract potential investors isn’t cheap. Substantial resources would be required to create an initial prototype, such as labour, computers, material, or even specialised equipment. Even if a…
Amendment Of Company Constituition
What is a company constitution? After the introduction of the Companies (Amendment) Act 2014, a company’s memorandum and articles of association (“M&AA”) merged into a single document known as the “Constitution”. Although the company does not need to take any action to “merge” their existing M&AA, most companies have since taken this opportunity to update and amend…