US pressures Singapore.

The US has put pressure on Singapore and its banks to cut financial ties with the Junta. According to Reutuers, US official Kristen Silverberg told reporters: We believe that there are regime officials with accounts in Singapore. We hope that they ensure that their financial institutions are not being used as a sanctuary for Burmese officials. Thank you Kristen

In response to Straits Times queries MAS spokesman referred to FM George Yeo’s reply to Parliament on Oct 22” As Singapore is an international financial center and funds can be transferred for various purpose including payment for goods and services, trades on the stock exchange, even for school fees. Banks and financial institution to have strict procedures to monitor and report any suspicious transaction.