Singapore, Now World's Fastest Growing Wealth Management Hub, Not Free From Tax Evasion And Other Crimes

Singapore has overtaken Switzerland, emerging as the world's fastest growing wealth management center, but banks in the Southeast Asian nation have a long way to go towards tax transparency, particularly in regards to money that may be questionable from other Asian countries. Singapore's wealth management industry grew 22 percent in 2012 to 1.63 trillion Singaporean dollars ($1.29 trillion), and its share of global offshore wealth is expected to outstrip Switzerland by 2020, according to data fr...