SINGAPORE CONFIRMS HIGH SEIZURES OF DIRTY MONEY IN 2013
October 1st, 2014
SINGAPORE has seized Singapore dollars SGD115 million (USD92 million) from suspected money laundering in 2013 - the highest amount in 5 years – as against SGD 65 million (USD 51 million) worth of laundered money seized in 2012 and 2013, an national police official has confirmed to the Money Laundering Bulletin.The increase is both because of increase in crimes likely to promote laundering and a robust suspicious transaction reporting (STR) regime, said Ms Ong Ying Ying, from Singapore police’s commercial affairs department.A comprehensive assessment study by ...
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