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2023 Singapore money laundering case

On 15 August 2023, the Singapore Police Force conducted an operation against money laundering. It is the biggest money laundering case in Singapore, and among the biggest in the world, involving assets worth 3 billion Singapore dollars.

Initially, only 1 billion Singapore dollars worth of assets was either seized, frozen or issued prohibition of disposal orders although the value of assets involved would later balloon to 3 billion Singapore dollars. Ten foreigners were arrested and charged for money laundering related crimes, all of whom were Chinese Nationals from Fujian who are also holders of various non-Chinese passports. Another 17 people are also currently on the run and are wanted by the Singaporean authorities for their alleged involvement in this case.

This case has been linked to unlicensed money lending in China, scams, and remote online gambling operations in the Philippines, which also saw a mayor in the Philippines being temporarily stripped of authority.

Authorities were first alerted to the scheme as early as 2021. Provided by Wikipedia