$3B Money Laundering Singapore Family Offices, Apple AI Integration & VC Fraud Maze with Shiyan Koh - E437

BRAVE Southeast Asia Tech: Singapore, Indonesia, Vietnam, Philippines, Thailand & Malaysia Startups, Founders & Venture Capital VC (English)

Shiyan Koh, Managing Partner of Hustle Fund, and ​​Jeremy Au talked about three main themes:

1. $3B Money Laundering Family Offices: Jeremy and Shiyan highlighted recent fraud cases in Singapore involving Chinese nationals, focusing on a massive $3 billion scheme by a group of 10 individuals who set up five family offices. This prompted tighter regulations from the Monetary Authority of Singapore (MAS) across the entire industry. Shiyan pointed out the vague and advantageous nature of family offices, stressing the need for more stringent due diligence and transparency. Jeremy discussed identifying fraud signals, like lacking mutual LinkedIn connections and dubious educational claims. He emphasized the importance of thorough vetting and trusted referrals to mitigate risks in investment circles.

2. Apple AI Integration: Jeremy and Shiyan analyzed Apple’s AI announcement at the Worldwide Developers Conference (WWDC) in June 2024. They discussed Apple’s potential to drive AI adoption due to its vast consumer base and seamless integration. Shiyan highlighted Apple’s focus on privacy and on-device processing as significant differentiators from Google and Microsoft. They speculated on how AI could enhance Apple’s ecosystem, debating the strategic value of integrating apps like WhatsApp and Gmail. They compared Apple’s approach to Google’s, particularly in search and maps, noting Apple’s potential to create a more cohesive and secure user experience.

3. VC Fraud Maze: Jeremy and Shiyan dove into the challenges in finding reliable investment opportunities. They pointed out the varying levels of market maturity and transparency across the region, making it a tricky terrain for investors. Shiyan emphasized that building trust and meticulous due diligence are crucial, especially as many early-stage VCs and ecosystem players are still finding their footing. Jeremy shared his personal struggles with dealing in environments with nascent regulations and informal networks, stressing the need for vigilance and adaptability in such markets.

Jeremy and Shiyan also discussed several other topics, including the differences in children’s learning abilities, advancements in technology and privacy implications, cultural challenges in language learning, strategic partnerships in tech, and market trends in Southeast Asian startups.

Watch, listen or read the full insight at https://www.bravesea.com/blog/money-laundering-family-offices

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WhatsApp: https://whatsapp.com/channel/0029VakR55X6BIElUEvkN02e

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LinkedIn: https://www.linkedin.com/company/bravesea

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