Newspaper Review II

Date of article:10/12/2008
Straits Time Section B12
Title: Ex-NKF chief's wife owes charity $975k

Summary:

The wife of the former National Kidney Foundation chairman Richard Yong awaits sentencing in Hong Kong for money laundering and faces a court order to pay $975,728 to the charity and NKF is claiming damages of more than 8million from Yong and two other former board members in its suit against them for breach of duties.

Reflection:

I feel that nowadays more and more money laundering issues regarding charity organisation have taken place and this has a certain impact on each and everyone of us on the effort on how readily we can give to the less fortunate. With more of this money laundering issues taking place, singaporeans' compassion is reduced as well, people donate to the charity less readily because they are worried of exactly how much of the money is used to the poor and not like what happened in this article: used in laundering. Seriously, the consequences of money laundering issues affects the needy most, without the donations, they may not be able to continue living with the high living standards.
So, in short i hope that more measures are introduced to prevent more of this type of money laundering issues. Probably, those charity organisation could be more transparent of how they are going to use those funds and so on so that the public could be aware of whats happening.
I hope that less money laundering issues would take place so that those needy people would not have to suffer because of the management inconsiderable and selfish actions.

Done BY: Minxian;D