Singapore Probes Property Agents’ Roles in Laundering Case: ST
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Singapore’s Council for Estate Agencies is investigating property agents who might have facilitated deals linked to the S$1 billion ($737 million) money laundering case in the city state, Straits Times reported Saturday.
Property agencies and their agents are required to conduct due diligence on their clients when they facilitate real estate transactions, the newspaper said, citing an unnamed person from the CEA, which governs the industry in Singapore. The number of property agents under investigation wasn’t given.