Stefanie Yuen Thio was quoted in Lianhe Zaobao by Lewis Ong Yong Huat

The article centred on how inactive companies could be misused for money laundering.

Stefanie commented on how Singapore is taking action to reassure the wider international market that it responds to money laundering cases seriously. She pointed out that the fact that wrongdoers were able to open accounts and move such large amounts of funds to Singapore means KYC procedures were not always effective.

Stefanie also noted that it is good that banks are sending their officers for more in-depth training to spot the common ways of evading KYC checks and the ruses used by criminals.