MAN ARRESTED WITHIN 5 HOURS FOR ASSISTING TO LAUNDER CRIMINAL PROCEEDS
The Police have arrested a 41-year-old man for his suspected involvement in a case of assisting to launder parts of criminal proceeds from a scam victim amounting to at least $273,800.
On 17 September 2023, the Police received a report that a victim was allegedly cheated by an unknown man whom she had gotten to know via social media. The victim withdrew large sums of cash over different dates and on one of the occasions, she handed about $150,000 to the man.
Through extensive investigations and follow-ups, officers from Central Police Division arrested the man on 17 September 2023 within 5 hours of the report. The accessories purportedly used by the man in the commission of crime were seized as case exhibits.
The man will be charged in court on 19 September 2023 with the offence of money laundering under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992, which carries an imprisonment term not exceeding 10 years, a fine not exceeding $500,000, or both.
The Police take a serious stance against any person involved in the laundering of proceeds of crime, and offenders will be dealt with firmly in accordance with the law. To avoid being an accomplice to crimes, members of the public should reject requests from others to register companies, open bank accounts or receive money, as you may be held accountable if they are used for criminal activities.
Annex
Photograph of Exhibits Seized ▼
PUBLIC AFFAIRS DEPARTMENT
SINGAPORE POLICE FORCE
18 September 2023 @ 11:25 PM
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Earlier last month, Singapore saw a case of money laundering that involved more than $1.8 billion in criminal proceeds being foiled in one of Singapore’s largest anti-money laundering operations that saw 10 people arrested.
Singapore Minister of Law and Home Affairs, K Shanmugam, explained how the investigations into the now $1.8 billion money-laundering case came to be, in an interview with Lianhe Zaobao.
According to a transcript of the interview by the Ministry of Home Affairs, Shanmugam said that the case is one of Singapore’s largest anti-money laundering operations, with more than 400 officers conducting the raids in 1 day that saw 10 people arrested.
He said that prior to the raids, there had been many months of investigations being conducted.
Snippets of Shanmugam’s explanation
The amount seized is now closer to $1.8 billion, and it could be even more. This is one of Singapore’s largest anti-money laundering operations. More than 400 officers conducted the raids on a single day and 10 persons were arrested.
The investigations leading to this, have been going on for many months. There is a lot of interest. You can understand, the amount of money, other assets that have been seized.
When it first came out, the amount was about a billion dollars. Now, as I have said, closer to $1.8 billion, so catches the imagination, of course, the pictures of the cars, the houses, and so on.
So it is entirely understandable the amount of interest, and we are a major financial services centre.
Matter is before the courts, so as you said, not much I can say, investigations are ongoing. I can tell you that 10 persons, as some people know, have been charged.