I was troubled to read the news reports “Local firm draws complaints in US, S’pore over promises of quick returns on crypto” and “‘I will die if crimes were committed’: S’porean man unaware he is director of 4 firms, files police report” (both March 24).

Singapore has a reputation for being a leading global business and financial hub, and I urge government ministries and agencies such as the Monetary Authority of Singapore, the Accounting and Corporate Regulatory Authority (Acra), and the Immigration and Checkpoints Authority (ICA) to review and integrate their policies and databases to work holistically.

Furthermore, individuals involved in activities such as registering companies, filing annual returns, opening and reviewing bank accounts, and overseeing transactions must be comprehensively trained regularly.

Given the advancements in computer systems and artificial intelligence technologies, establishing robust control checkpoints to identify unusual and suspicious transactions for further review and investigation is feasible. For instance, lost or stolen identity cards handled by ICA can be flagged in Acra reports, indicating invalid director identification cards.

Cheong Wing Kiat