Singapore: 10 arrested on suspicion of money laundering

Those arrested were allegedly involved in illegal online gambling.

Singapore.- Authorities in Singapore have arrested ten foreign people aged between 31 and 44 on suspicion of involvement in money laundering. They are believed to have been involved in online gambling operations targeting people abroad.

An investigation was prompted by the discovery of suspicious transactions, including the use of potentially falsified documents to justify the sources of funds in bank accounts. Singapore’s Commercial Affairs Department, the Criminal Investigation Department, Special Operations Command and the Police Intelligence Department were all involved.

Police seized assets worth $735m, including cryptocurrencies, cash, foreign currencies, more than 250 luxury bags and watches and 35 linked bank accounts together holding more than SG$110m.

Police seek eight other people believed to have been involved. None of the suspects possesses citizenship or permanent residency in Singapore, holding passports from countries including China, Turkey, Cambodia and Vanuatu.

See also: Singapore: man arrested for alleged illegal gambling