Singapore Pledges Jail, New Tactics for Financial Criminals

Singapore, where assets under management have risen fivefold to $1.2 trillion since 2001, will seek tougher penalties for white-collar criminals and co-operate more with global agencies to deter money laundering and tax evasion, Attorney General Sundaresh Menon said.

Prosecutors are also considering the use of deferred prosecution, Menon, 49, said in an interview, a year after taking office. He was referring to a commonly used method in the U.S. under which defendants who agree to cooperate with investigators, pay fines or implement corporate reforms have charges against them dismissed if they fully comply.