Singapore strikes ex-pat SG$1 billion money laundering ring

A group of 10 foreign nationals, all ethnically Chinese, have appeared at Singapore's State Courts accused of operating a SG$1 billion (US$738 million) international money laundering ring. The ten have all been denied bail in preliminary hearings, following an island-wide set of police raids on 15 August [2023] involving more than 400 officers. The Singapore Police Force has said it is hunting for eight more suspects and 12 others are assisting with the inquiry.

By Keith Nuthall

A group of 10 foreign nationals, all ethnically Chinese, have appeared at Singapore's State Courts accused of operating a SG$1 billion (US$738 million) international money laundering ring. The ten have all been denied bail in preliminary hearings, following an island-wide set of police raids on 15 August [2023] involving more than 400 officers. The Singapore Police Force has said it is hunting for eight more suspects and 12 others are assisting with the inquiry.