Singapore's largest money laundering case involves funds expanding to 2.8 billion Singapore dollars

ChainCatcher news, according to Bloomberg, a Singaporean official stated that in an ongoing money laundering investigation, authorities have seized or frozen assets worth over 2.8 billion Singapore dollars (approximately 2 billion USD), while indicating that the government may tighten immigration regulations to curb the influx of illegal funds.

It is understood that the initial amount involved was over 1 billion Singapore dollars, which later increased to 1.8 billion Singapore dollars, rising to 2.4 billion Singapore dollars on September 20, and as of today (October 3), the total amount of frozen or restricted assets has increased to 2.8 billion Singapore dollars.

Earlier reports indicated that the 10 foreign nationals arrested in this case are suspected of crimes such as forgery and money laundering, with the total value of the involved assets estimated at around 1 billion Singapore dollars, and it is preliminarily determined that all 10 individuals are originally from Fujian Province, China.