Singapore is Asia’s largest private banking center with offshore assets of about $850 billion, Boston Consulting Group data shows. Singapore is the second largest offshore center trailing only Switzerland which remains the world’s largest offshore financial center with about $2.2 tn of assets.

Switzerland is expected to remain the largest single offshore center globally, with about 25 percent of total offshore wealth by the end of 2017, compared with 26 percent in 2012. Singapore, in second place, is expected to increase its share from 10 percent to around 12 percent, according to the BCG report.

According to research on global financial trends from WealthInsight, Singapore will overtake Switzerland to become the world’s biggest offshore wealth centre by 2020,

Is the DOJ asking the obvious question: What makes Singapore attractive for offshore asset investments?

More about on :
Corruption Reports
Offshore Assets and Disclosure