Singapore billion dollar money laundering case

From Wikipedia, the free encyclopedia
Singapore billion dollar money laundering case
Date15 August 2023 (2023-08-15) (raids)
LocationSingapore
TypeMoney laundering scheme
Accused10
Convicted6

On 15 August 2023, the Singapore Police Force conducted an operation against money laundering.[1] 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][4]

It led to at least ten foreigners being charged for money laundering related crimes.[1] They are Chinese from Fujian who are holders of various non-Chinese passports.[3][5]

The raids conducted in August 2023 seized several luxury items and has been linked to unlicensed money lending in China, scams, and remote online gambling operations in the Philippines.[6]

Authorities were first alerted to the scheme as early as 2021.[2]

Further reading[edit]

  • Sun, David; Sverdan, Roman; Aragó, Laura (16 May 2024). "Vast and tangled web: S'pore's largest case of money laundering". The Straits Times. Retrieved 22 May 2024.

References[edit]

  1. ^ a b Wong, Shiying; Sun, David (16 August 2023). "About $1b in cash, assets seized and frozen in one of S'pore's biggest anti-money laundering operations". The Straits Times. Retrieved 22 May 2024.
  2. ^ a b Chua, Nadine (3 October 2023). "S'pore money laundering case among world's largest with assets seized worth over $2.8b". The Straits Times. Retrieved 22 May 2024.
  3. ^ a b "Singapore Busts Multimillion-Dollar Money Laundering Scheme". Voice of America. 29 August 2023. Retrieved 22 May 2024.
  4. ^ "S$3 billion money laundering case: Only woman accused gets seven new charges, wants early date to plead guilty". The Business Times. 21 May 2024. Retrieved 22 May 2024.
  5. ^ "'Golden passports': Where did the suspects in Singapore's new billion-dollar money laundering case come from?". ABC News. Reuters/ABC. 24 August 2023. Retrieved 22 May 2024.
  6. ^ Kok, Xinghui (30 August 2023). "Suspects back in court over Singapore's swoop on major money laundering ring". Reuters. Retrieved 22 May 2024.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Singapore_billion_dollar_money_laundering_case&oldid=1225096617"