Thursday, July 18, 2024
HomeWorld newsSingapore's wealth flows are once again under scrutiny in the superhacker case

Singapore’s wealth flows are once again under scrutiny in the superhacker case

Before he was arrested last month for allegedly running the world’s largest cybercrime computer network, Wang YunHe enjoyed a lavish lifestyle in Singapore.

He had a bank account in the city state, was a director of several local companies and lived in a multimillion-dollar apartment overlooking a prime shopping district, according to an indictment and local documents. Meanwhile, the 35-year-old Chinese national amassed wealth by offering cybercriminals access to millions of infected devices for a fee, the US Department of Justice said.

The case puts a new spotlight on the challenges of overseeing the flow of foreign wealth into Singapore, less than a year after 10 people of Chinese descent were charged in the country’s biggest money laundering scandal.

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