CoinVoice has recently learned that on October 6, according to the latest official information, Singapore will set up an inter-departmental committee to review the anti-money laundering system in response to the largest money laundering case in Singapore that was recently seized. The Monetary Authority of Singapore and other institutions will appoint relevant personnel to participate in the committee, and the Second Minister of the Ministry of Finance and the Ministry of National Development of Singapore will serve as the chairman of the committee.
It is reported that Singapore will next review its anti-money laundering system from the perspectives of foreigners purchasing and holding local real estate, and corporate entity registration and operations.
CoinVoice previously reported that on October 3, the total value of assets seized or frozen by Singapore authorities in the largest money laundering case in the region was further expanded to 2.8 billion Singapore dollars (equivalent to 2 billion US dollars). These assets include 152 properties, 62 cars, thousands of bottles of wine, cryptocurrencies, gold bars and jewelry. At the same time, the government said it may tighten immigration regulations to curb the influx of illegal funds. [Original link]