SINGAPORE (XINHUA) – Singapore seized assets of SGD6 billion (USD4.4 billion) linked to criminal and money laundering activities between January 2019 and this June, an official statement said Wednesday.
Up to SGD416 million of illicit assets have been returned to victims, according to a joint statement issued by the Ministry of Home Affairs, the Ministry of Finance, and the Monetary Authority of Singapore.
Another SGD1 billion have been forfeited to the State, while most of the remainder is related to ongoing investigations or court proceedings.
Singapore also unveiled its National Asset Recovery Strategy, pledging continuous efforts to counter money laundering and terrorism financing.
