SINGAPORE CRACKS DOWN ON EXPAT MONEY LAUNDERING RING EXPLOITING ITS BANKS
August 27th, 2023
A group of 10 foreign nationals, all ethnically Chinese, have appeared at Singapore’s State Courts accused of operating a Singapore dollars SGD1 billion (USD738 million) international money laundering ring. The group have all been denied bail in preliminary hearings, following an island-wide set of police raids on August 15 involving more than 400 police officers. The Singapore Police Force has said it is hunting for eight more suspects and 12 others are assisting with the inquiry.
The arrests followed tips a gang was using forged documents to substantiate the ...
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