Anonymous

24 Jan 2021

∙

General Investing

How does Tiger brokers money laundering affect us in Singapore?

https://geoinvesting.com/up-fintech-holdings-il...

Came across this link from a website and am wondering if it's true or not.

If so, how does this affect us in SG? What are the risks?

1

Discussion (1)

What are your thoughts?

Learn how to style your text

zegna

24 Jan 2021

+1. I like to know too. Hope experts here can shed more light on the situation and implication to customers under the SGP entity.

The article link posted above dated 2019, not sure what happens after that. Anyone has any latest info regarding this case?

Last year 2020, the New Zealand's FMA also issue warnings for Tiger anti-money laundering breaches. See

https://www.fma.govt.nz/news-and-resources/medi...

Is the sgp entity safe in the event its China parent company and NZ entity got shut down?

More importantly, customers' monies held in segregated custodian account will be taken over by an administrator as part of proceeding and all customers will be force to liquidate their positions, what measure can its customer take to guard against this or is it unavoidable?

Read somewhere someone posted vaguely that it is possible to transfer to own CDP account from Tiger as a precaution with every buy, anyone has the rough steps to do so?

Reply

Save

Write your thoughts

Related Posts

What are your thoughts on Singapore to stop issuing S$1,000 note to reduce money laundering risk? Will that affect you in any way or not really?

Hi Seedly Community, may I know if anyone reviewed Tiger Brokers versus Standard Chartered Priority versus IBKR before? I am looking at buying singapore and US shares + etf.

What are your thoughts on the US elections this time and how do you think a Trump/Biden win will affect Singapore and international markets? How would either win affect Singapore's economy?

If Tiger Brokers is preventing us from buying some US shares, what are the next few brokers with lower commissions?

Hi,my daughter is going to the US to study. What is the best way to send money from Singapore to a local bank in the US? If I use DBS remit, will the US bank charge any transfer fees on the recipient?

Related Products

Tiger Brokers

3.9

138 Reviews

$2.88

MINIMUM FEE

0.04%

TRADING FEES

Custodian

STOCK HOLDING TYPE

Saxo Markets

4.5

957 Reviews

Moomoo Singapore

4.7

476 Reviews

Related Posts

What are your thoughts on Singapore to stop issuing S$1,000 note to reduce money laundering risk? Will that affect you in any way or not really?

Hi Seedly Community, may I know if anyone reviewed Tiger Brokers versus Standard Chartered Priority versus IBKR before? I am looking at buying singapore and US shares + etf.

What are your thoughts on the US elections this time and how do you think a Trump/Biden win will affect Singapore and international markets? How would either win affect Singapore's economy?

If Tiger Brokers is preventing us from buying some US shares, what are the next few brokers with lower commissions?

Hi,my daughter is going to the US to study. What is the best way to send money from Singapore to a local bank in the US? If I use DBS remit, will the US bank charge any transfer fees on the recipient?