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Some changes have already been introduced since the money laundering ring was exposed, including laws making it easier for law enforcement to prosecute such offences and lowering the cash ...
It is the biggest money laundering case in Singapore, and among the biggest in the world, [2] involving assets worth 3 billion Singapore dollars. [ 3 ] Initially, only 1 billion Singapore dollars worth of assets was either seized, frozen or issued prohibition of disposal orders although the value of assets involved would later balloon to 3 ...
The new Anti-Money Laundering and Other Matters Bill introduced to parliament on Tuesday will remove the need for the prosecution to show a direct link between the criminal Singapore aims to make ...
Ten foreigners accused of involvement in a major money laundering operation in Singapore were again remanded to custody on Wednesday, with new charges slapped on eight, as the city-state widens ...
A Rolls-Royce Dawn vehicle seized by police at a residence of Su Jiafeng, one of the suspects in the S$2.8 billion money-laundering case, in Singapore, on Wednesday, Oct. 25, 2023.
Money Laundering Cycle. From 2020 to 2022, at least 240 people were convicted of money laundering offences (largely related to domestic scams) and a total of $1.2 billion worth of assets were seized. [78] In August 2023, the police arrested ten foreign nationals on suspicion of committing offences such as forgery and money laundering. [79]
The Anti-Money Laundering Improvement Act established national and international policies to prevent and combat money laundering and terrorist financing. [1]It protects the integrity of financial institutions by detecting money laundering activities, which involve converting illegally obtained funds into legitimate assets through complex transactions and disguising the proceeds as lawful funds.
The operation was part of one of the city-state's biggest ever anti-money laundering investigations. Cash, cars and homes seized in $735m Singapore anti-money laundering raids Skip to main content