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Your Daily Asia Gaming eBrief: Could the Singapore money laundering ring be tied to the Bangladesh bank heist?
Good Morning. A money laundering crew named Su. Gaming expert Ben Lee questions the possible link between the Singaporean money laundering ring and the Bangladesh Bank heist in 2016, while pointing to indications of previous misuse of UnionPay transactions in the 'squeaky clean' hub. Meanwhile, in the Philippines, PAGCOR is partnering up with the Development Academy to further the divestment of its self-operated casinos, as it makes good on its promise to only be a regulator.
What you need to know
- An expert questions whether funds seized in the money laundering raid in Singapore could be linked to the Bangladesh Bank heist.
- PAGCOR partners with the Development Academy of the Philippines to advance the sale of its casinos.
On the radar
- Caesars preparing to disclose information on cyberattack soon.
- MGM and Caesars hackers targeted three other companies.
- Macau visitor arrivals reached post-Covid high in August.
- Premium Leisure Corp's net earnings surge 51 percent Jan-Aug 2023.
- PAGCOR still seeking election-spending ban exemption.
- Donaco names Joan Dabon as new secretary.
AGB Intelligence
UNDER THE SCOPE
Singapore money laundering crew a family affair?
The massive bust in Singapore of a billion-dollar money laundering crew raises the question of how deep the operatives' ties were to the Asian gambling industry. Expert Ben Lee questions whether some of the funds could be linked to the Bangladesh Bank heist, judging by the identities of some of the suspects. But the ring begs the question of how effective oversight is on incoming funds, and how much dirty money could be flowing through the Merlion city.Corporate Spotlight
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2024-12-20
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