White Collar Crime: Comparative Guide on Criminal Law in Singapore
White collar crime in Singapore is governed by a variety of laws that cover a wide range of offenses. For example, the Penal Code, which dates back to 1871, covers crimes like fraud, cheating, market rigging, and forgery. The Prevention of Corruption Act specifically addresses corruption and bribery offenses, while the Securities and Futures Act deals with offenses related to the securities and derivatives industry, such as insider trading and market rigging.
In addition to these laws, there are also regulations like the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act, which focuses on money laundering offenses. The Income Tax Act and the Customs Act govern tax-related offenses, and the Computer Misuse Act covers unauthorized access to computer materials.
When it comes to enforcing these laws, several bodies are responsible, including the Attorney-General’s Chambers, the Singapore Police Force, and the Monetary Authority of Singapore. These agencies have extensive powers to gather evidence, conduct searches, and compel witness testimony.
In terms of enforcement, investigations typically start with complaints, tip-offs, or whistleblower reports. Once an investigation is complete, the findings are presented to the Attorney General, who ultimately decides whether to prosecute.
Both individuals and companies can be prosecuted for white collar crimes in Singapore. The enforcement agencies work diligently to ensure that those who commit financial crimes are held accountable, whether they are individuals or corporate entities.
Singapore has also established international cooperation agreements to facilitate the exchange of information and assistance in cases of white collar crime. These include mutual legal assistance treaties with countries like France and extradition treaties with countries like the United States and Indonesia.
Overall, Singapore takes white collar crime seriously and has strong mechanisms in place to investigate, prosecute, and prevent financial offenses. If you’re interested in learning more about how white collar crime is addressed in Singapore, feel free to explore our comparative guides section for more information.
