Singapore will establish a cross-departmental committee to review the anti-money laundering system

ChainCatcher news, according to official sources, Singapore will establish a cross-departmental committee to re-examine the anti-money laundering system in light of the recent seizure of the largest money laundering case in Singapore. The Monetary Authority of Singapore and other agencies will appoint relevant personnel to participate in the committee, with the Second Minister of Finance and the Second Minister of National Development of Singapore serving as the committee chair.

It is reported that Singapore's next step will be to re-examine the anti-money laundering system from the perspective of foreign purchases and ownership of local real estate, as well as the registration and operation of corporate entities.

ChainCatcher previously reported that the funds involved in Singapore's largest money laundering case have expanded to 2.8 billion Singapore dollars.