Singapore unveils proposals to tackle tax crime

Having flagged its intentions in October last year, Singapore's markets watchdog yesterday started a consultation* on designating tax crimes as money laundering (ML) predicate offences. The move comes amid a wave of regulation from various jurisdictions around the world aimed at combating tax evasion, perhaps most notably – and controversially – the US's Foreign Account Tax Compliance Act, or Fatca. It also follows recent money-laundering cases involving UK banks HSBC and Standard…