Is that limitation number of appointment nominee director good enough ?
?Background
?Mr A is helping friend to register company and appointed as nominee director , shareholder and named company secretary.
Total there is 9 companies linked to billion-dollar money laundering bust. ?
All company is registered via his Company secretary firm.
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?Proposed limits
Is the limitation of number nominee director can prevent or reduce Money Laundering activities?
?I doubt so because as long as someone issued with singapss he can assist to register the company.
?Some of them may wiling to become Nominee Director especially they helping friend who someone they though know well.
?Imagine a family of 4 can help to register company via 4 different Singpass.
?How do we ensure that singpass holder is done their due diligence ?
?Filing Agent is required to attend seminar, how about the Singpass holder?
Company director is the one who dealing dairy business operation, so they also need to educated with money laundering activities.
One final question how do we ensure due diligence had comply ?