Speech by Mr. Louis Ng Kok Kwang, MP for Nee Soon GRC at the Second Reading of the Developers (Anti-Money Laundering and Terrorism Financing) Bill [Bill no. 45/2018] Introduction Sir, I stand in support of this Bill. Real estate is a popular outlet for illicit funds. Money launderers and terrorism financiers often invest in real estate for the same reasons other people do: the prices are stable; the values generally appreciate over time; and you can live in it or rent it out.....
SPEECH BY ER DR LEE BEE WAH, MP FOR NEE SOON GRC, AT THE SECOND READING OF THE DEVELOPERS (ANTI-MONEY LAUNDERING AND TERRORISM FINANCING) BILL IN PARLIAMENT ON 20 NOV 2018 Mr Speaker, Sir The threat of terrorism is increasing on a global scale. The terror threat that Singapore faces is at the highest in years. To keep terrorism at bay, we need a multi-pronged approach. Apart from shoring up our border security, and strengthening social resilience among our citizens,....