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SINGAPORE: Parliament will see three ministerial statements right this moment (3 Oct) on one among Singapore’s largest-ever cash laundering instances.
In accordance with the parliamentary order paper, Second Minister for Residence Affairs Josephine Teo, Minister of State for Commerce and Business Alvin Tan, and Second Minister for Finance and Nationwide Improvement Indranee Rajah can be talking on Singapore’s Anti-Cash Laundering Regime. Mr Tan can be talking on behalf of Deputy Prime Minister Lawrence Wong.
Earlier this month, 10 foreigners confronted expenses in court docket after authorities seized and froze roughly S$1 billion in property. These property included properties, automobiles, luxurious items, and gold bars.
The police up to date on Sept 20 that the worth of property seized within the case has climbed to greater than S$2.4 billion after additional actions. This contains financial institution accounts with a price of greater than S$1.13 billion.
A complete of 12 parliamentary questions have been filed for oral solutions regarding the cash laundering case. Choa Chu Kang GRC MP Zhulkarnain Abdul Rahim requested how the Financial Authority of Singapore intends to cooperate with related companies to stop the usage of movable property, equivalent to jewelry and watches, in native cash laundering actions. He additionally inquired concerning the tightened controls and strict inspections on property like jewelry and watched introduced into the nation by importers and retail shops.
Bukit Batok SMC MP Murali Pillai posed questions concerning the involvement of the ten foreigners in organized prison gangs in Singapore and whether or not such ties could be investigated additional. He additionally questioned whether or not extra measures could be applied to safeguard the native actual property market from exploitation by cash launderers.
Along with the cash laundering case, right this moment’s parliamentary session will tackle different urgent points, together with public transport fares, meals costs in hawker centres, and the progressive wage mannequin.
– Commercial –
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