Parliament to address key concerns on anti-money laundering efforts amid major investigation
In response to the ongoing billion-dollar money-laundering probe, Members of Parliament (MPs) have filed 32 questions regarding the case, which authorities have deemed the “most serious, if not the worst” money-laundering case in Singapore. Minister of State for Home Affairs, Sun Xueling, announced that these concerns will be addressed in a ministerial statement in Parliament scheduled for October. The questions raised include inquiries on potential new anti-money laundering initiatives, enhanced checks on high-risk individuals, and the involvement of non-financial institutions in tightening controls.
The investigation has led to the seizure of assets worth approximately S$1.8 billion, including luxury cars, bags, and cash. Additionally, prohibition orders have been issued for 105 properties, valued at around S$831 million, including prime properties in Sentosa Cove and numerous condominiums and commercial spaces. The multi-ministry response will provide a comprehensive update on the ongoing efforts to tackle this significant case.
