Carding
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The Singapore police announced the arrest of 10 people on suspicion of laundering more than 950 million SGD (~$700 million), including through digital assets.
All those arrested are citizens of China, Cyprus, Cambodia, Turkey and Vanuatu. Eight more people are being sought.
“As a result of an extensive investigation and subsequent intelligence, including analysis of suspicious transaction reports, the police identified a group of individuals suspected of being involved in laundering the proceeds of organized crime abroad, including fraud and online gambling,” the law enforcement authorities said in a statement.
During the searches, more than 94 properties and 50 vehicles worth over 815 million SGD (~$600 million) were seized from the alleged perpetrators. The authorities also seized more than 35 bank accounts for 110 million SGD (~$81 million).
In addition, SGD 23 million (~$17 million) in foreign cash, more than 250 luxury bags and watches, 120 electronic devices, 270 jewelry and two gold bars were confiscated.
In addition, law enforcement officers found 11 documents "with information about digital assets." The investigation is ongoing.
The detainees are already charged with money laundering, fraud, forgery and resisting arrest.
All those arrested are citizens of China, Cyprus, Cambodia, Turkey and Vanuatu. Eight more people are being sought.
“As a result of an extensive investigation and subsequent intelligence, including analysis of suspicious transaction reports, the police identified a group of individuals suspected of being involved in laundering the proceeds of organized crime abroad, including fraud and online gambling,” the law enforcement authorities said in a statement.
During the searches, more than 94 properties and 50 vehicles worth over 815 million SGD (~$600 million) were seized from the alleged perpetrators. The authorities also seized more than 35 bank accounts for 110 million SGD (~$81 million).
In addition, SGD 23 million (~$17 million) in foreign cash, more than 250 luxury bags and watches, 120 electronic devices, 270 jewelry and two gold bars were confiscated.
In addition, law enforcement officers found 11 documents "with information about digital assets." The investigation is ongoing.
The detainees are already charged with money laundering, fraud, forgery and resisting arrest.
