Singapore police seized 1 billion assets and arrested 10 foreigners suspected of money laundering

2023/08/16 15:00

On August 16th, the Singapore police carried out simultaneous raids across the country and arrested 10 foreigners (mostly Chinese and Cambodian) suspected of money laundering and document forgery. Another 12 people assisted in the investigation, and 8 people are currently being sought. The assets seized in this operation by the police have a total value of approximately 1 billion Singapore dollars, including over 115 million in cash, real estate, cars, electronic devices, jewelry, and 11 documents containing information on virtual assets. Relevant bank account funds have also been frozen. These 10 non-Singaporean citizens or permanent residents are suspected of using forged documents to launder money for overseas criminal gangs. They will face multiple charges including money laundering and document forgery. The Singapore police stated that they will continue to investigate and do not rule out the possibility of seizing more assets and accounts in the future.

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