Monday, June 17, 2024
HomesingaporeParliamentary questions on S$1 billion money laundering case to be answered in...

Parliamentary questions on S$1 billion money laundering case to be answered in October ministerial statement

SINGAPORE: Parliamentary questions on Monday (Sep 18) over the recent billion-dollar money laundering case will be addressed in a ministerial statement in October. 

Minister of State for Home Affairs Sun Xueling said that many Members of Parliament have filed queries on the anti-money laundering operations conducted by police and on Singapore’s anti-money laundering framework.

They cover a wide range of issues across several ministries, she said, adding that several MPs have also filed questions for the sittings on and after Sep 19.

The Home Affairs Ministry, together with various other ministries, will “respond to the queries comprehensively” in a ministerial statement in October, Ms Sun said.

More than 30 questions were filed by MPs on one of Singapore’s biggest money laundering probes. Questions submitted include the magnitude of the assets seized despite Singapore’s strict anti-money laundering measures and what more can be done to prevent such crimes.

Watch:

Sun Xueling on ministerial statement in October against money laundering

Ten foreigners were arrested in August when the Singapore police raided multiple Good Class Bungalows and condominiums, among other locations, across the island. 

About S$1 billion (US$736 million) in assets, including properties, vehicles, luxury goods and gold bars, were seized or frozen. 

One of the suspects implicated in the probes was revealed to have financed the purchase of 10 units at luxury condominium Canninghill Piers and another at unit at Park Nova. 

The High Court has also rejected all applications sought by Turkish national Vang Shuiming’s lawyers’ to have their client released on bail.

He currently faces five charges – one of using a forged document and four of possessing criminal benefits worth S$2.4 million from unlicensed moneylending in China.

Related:

2 men in billion-dollar money laundering case denied bail after judge deems them 'high flight risk'

How do criminals get away with money laundering and why is it so hard to detect?

RELATED ARTICLES
- Advertisment -

Most Popular