SINGAPORE – A wider net has been cast in the $1 billion money laundering probe, with the Ministry of Law (MinLaw) sending out a notice to dealers of precious metals and stones with the names of 34 individuals who could be linked to suspicious transactions.
The list of names included the 10 foreigners who were charged in court on Aug 16 with various offences including forgery and money laundering.
The notice was sent on Sunday to the dealers by the Anti-Money Laundering/Countering the Financing of Terrorism Division of MinLaw.
The dealers were told to review “transactions and business relations to assess if there are any reasonable grounds to suspect criminal conduct, including money laundering in connection to the police investigation”, according to the MinLaw notice that The Straits Times saw.
Mr Mohamed Bilal, president of the Gem Traders Association of Singapore, said when it gets such notices, it immediately shares them with its 26 members to help with investigations.
“Aside from an advisory to look out for suspicious transactions, there were a total of 34 names, some of which showed they were nationals of Cambodia, Turkey and Cyprus,” said Mr Bilal.
The police had launched an islandwide blitz on Aug 15, which saw them take control of more than 250 luxury bags and watches, over 270 pieces of jewellery and two gold bars, among other assets.
In total, they seized, froze or issued orders to block the sale of about $1 billion in assets, including 105 properties, cars, cash and luxury goods.
They also arrested 10 people. Twelve others are helping with investigations, while eight other individuals are on the run.
In the e-mail, MinLaw drew links between the 34 suspects, saying they are “believed to have connections among themselves”.
“Through extensive investigations and follow-up, including the analysis of suspicious transaction reports (STRs), the police identified a group of foreign nationals suspected to be involved in laundering the proceeds of crime from their overseas organised crime activities,” said MinLaw in the e-mail.
It added that all the people involved are neither Singapore citizens nor permanent residents.
