US embassy cable - 05SINGAPORE760

C O N F I D E N T I A L SINGAPORE 000760 
 
SIPDIS 
 
STATE FOR EB/ESC/TFS DNELSON; S/CT TKUSHNER; IO/PSC 
JSCHWEITZER, EB/EPPD CTHOMPSON 
TREASURY FOR JZARATE 
OFAC FOR RWERNER 
 
E.O. 12958: DECL: 03/15/2015 
TAGS: KTFN, KVPR, EFIN, PTER, ETTC, PREL, CVIS, SN 
SUBJECT: TERRORIST FINANCE: SINGAPORE'S ABILITY TO COOPERATE 
 
REF: A) STATE 32688 B) STATE 36867 C) SINGAPORE 724 
     D) 04 SINGAPORE 784 E) 04 SINGAPORE 3540 
 
Classified By: Economic/Political Counselor Laurent 
Charbonnet.  Reason: 1.4 (b) and (d) 
 
1. (U) This message responds to Ref A's questions concerning 
Singapore's ability to cooperate in disrupting terrorism 
financing. 
 
2. (U) AMOUNT OF ASSETS FROZEN, FORFEITED OR SEIZED: To date, 
Singapore has not identified any assets in Singapore of 
persons pursuant to UNSCR Resolutions 1267 and 1373. 
 
3. (C) IMPEDIMENTS TO CO-SPONSORING DESIGNATIONS: Singapore 
has yet to co-sponsor any designations of terrorists to the 
UN 1267 Sanctions Committee, although Post recently submitted 
Ref B's request that Singapore consider doing so for certain 
Jemaah Islamiyah (JI) members.  As Ref C suggests, 
Singapore's willingness to co-sponsor designations may depend 
in part on what steps its neighbors -- particularly Malaysia 
and Indonesia -- are planning to take.  Singapore has opposed 
past USG proposals to include JI detainees in Singapore on 
the UN list, claiming that such actions would undermine the 
government's strategy of gaining the trust and cooperation of 
the detainees in identifying, detecting and detaining 
additional JI terrorists, both in Singapore and abroad. It 
has, however, strongly supported designating senior JI 
leaders such as Bashir, Hambali, and others. 
 
4. (U) USG TRAINING AND TECHNICAL ASSISTANCE: Singapore 
regularly accepts USG training and technical assistance, 
including assessments of its training needs. It has 
co-sponsored CT finance workshops with us, and hosts a number 
of annual CT-related conferences.  As recommended in Ref D, 
we should encourage Singapore to take a more proactive 
approach by offering its training assistance to foreign 
enforcement authorities in the region. 
 
5. (C) TERRORIST FUND RAISING/BANKING SERVICES RISK: Risk 
Level - Medium.  As this year's INCSR submission (Ref E) 
notes, Singapore's position as a significant financial and 
investment center, coupled with bank secrecy laws and the 
lack of routine currency reporting requirements, make it an 
attractive destination for terrorist organizations.  The risk 
that terrorists will use Singapore either for significant 
fund raising or banking services is mitigated by the 
government's implementation of a strong CT finance legal 
framework; the United Nations Act of 2001 and the Terrorism 
(Suppression of Financing) Act and its implementing 
regulations provide the government adequate and effective 
tools to take action against terrorists.  Singapore is 
currently considering revisions to its key AML/CFT 
regulations for banks (and, thereafter, for other financial 
institutions) that incorporate the revised FATF Forty 
Recommendations, and the FATF's Special Recommendation Seven 
on wire transfer reporting requirements.  Once adopted, most 
likely by mid year, the regulations' coverage is expected to 
include terrorist financing activities. 
LAVIN