Prompt suspicious transaction reports (STRs) by Singapore’s financial institutions (FIs) helped reveal a massive transnational money laundering organisation. The total value of assets seized or frozen with prohibition of disposal orders in the case so far has swelled to over 2.4 billion Singaporean dollars (S$2.4 billion – US$1.8 billion).

A significant proportion of the assets are tradeable goods, ranging from luxury bags to gold bars, though it remains unclear whether these or other goods played an integral role in the highly organised money laundering scheme apparently operated by Chinese nationals.

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