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SINGAPORE – Singapore has seized S$6 billion linked to crime and money laundering since 2019, the wealthy city state said Wednesday, after a massive dirty money scandal marred its squeaky clean reputation last year.
“As an international financial and business hub, we recognise that we face greater money laundering and terrorism financing risks,” Prime Minister Lawrence Wong said Wednesday at an event hosted by the Financial Action Task Force, a global financial crime association. The report, released as part of the Southeast Asian nation’s efforts to stop the flow of criminal money, said a large number of cases in Singapore involved foreign crime syndicates employing sophisticated methods.
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