Singapore seizes money launderer's assets in Swiss banks in S$1.8 billion case September 06, 2023 at 12:24AM

Singapore police have seized S$125 million ($91.79 million) from the bank accounts of one of the ten foreign suspects accused in a major money laundering operation. The total value of assets seized by investigating authorities now stands at S$1.8 billion, including gold bars, designer handbags, jewellery, properties, and luxury cars. The scale of the operation has raised concerns about loopholes in Singapore's financial system. Two of the accused foreigners have been denied bail, while the others are still in remand.