SINGAPORE (Reuters) - The total value of assets seized in Singapore's biggest money laundering case has swelled to S$2.4 billion ($1.76 billion), police said on Wednesday. The assets now include cash amounting to more than S$76 million, 68 gold bars, cryptocurrencies ...
It was Singapore's largest money-laundering case. The joint investigators found that the drug syndicate used couriers to smuggle money physically into Singapore between 1989 and 1992. The cash was laundered through money-changers in Singapore and in the Middle East. Some of the illegal cash ...
The main culprit in Singapore's largest money laundering case, Su Wenqiang, pleaded guilty on April 2 and was sentenced to 13 months in prison. The amount involved has risen to more than S$3 billion, and 10 people have been charged so far. Two Chinese men, Su Yongcan and Wang Huoqiang...
Two former bank employees, both Chinese nationals, were charged in Singapore on Thursday in connection with the city-state's biggest money laundering case, police said. Assets worth more than Sg$3.0 billion ($2.3 billion) -- including upmarket properties, luxury cars and gold bars -- were sei...
The two well-known banks in Singapore, Development Bank Singapore (DBS) and Overseas Chinese Banking Corporation (OCBS), have been accused of involvement in one of the country’s largest money laundering case. Last month, Singapore police arrested 10 foreigners in a money laundering case and ...
Singapore's legal system took a decisive step by formally charging two former bank relationship managers, marking a significant development in the country's largest-ever money-laundering scandal. This action re... Marina Bay Sands to Launch VIP Gaming Floors by September 2024 ...
Warrants of arrest and Interpol Red Notices have also been issued against two more Cambodian nationals for money laundering offences. To continue reading... Sign in Password* Remember me Lost your password? Subscribe Subscribe to Regulation Asia to gain access to APAC’s leading platform for news...
The regulator is looking into a money laundering case and checking whether a number of international and local banks correctly monitored clients' activity. Besides Credit Suisse, other firms mentioned in the report include UBS, Julius Baer, ICBC, UOB and Bank of China. The Monetary Authority of...
DBS Bank is the largest bank in Singapore by assets, valued at US$500 billion in 2022. The bank has over 100 branches in the city-state, as well as branches in Indonesia, Malaysia, Thailand, Vietnam, China, UAE, US, UK, Hong Kong, and India, among others. ...
The Regional Comprehensive Economic Partnership ("RCEP"), the world’s largest free-trade agreement, took effect on 1 January 2022. Including close to three billion people and accounting for about 30% of global GDP, the RCEP aims to boost trade, promote investments, and create an integrated si...