Singapore Seized $4.4 Billion in Dirty Money Since 2019
- S$1 billion of such illicit assets has been forfeited to state
- Anti-money laundering bill expected to be tabled this year
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Singapore has seized S$6 billion ($4.4 billion) linked to criminal and money laundering activities over the past five years, of which about half of these illicit assets were from last year’s record scandal.
Of the amount that was confiscated between January 2019 and June 2024, some S$416 million has been returned to victims while S$1 billion has been forfeited to the state, according to a report released Wednesday by the government. In last year’s S$3 billion money laundering case, about S$944 million has already been forfeited to the state, the report stated.