Singapore requires banks to investigate related transactions of suspects involved in a S$1 billion money laundering case

ChainCatcher news, according to Bloomberg, the central bank of Singapore has instructed financial institutions to review related transactions of previously suspected money laundering cases. The Monetary Authority of Singapore has required banks to examine any suspicious or unusual transactions of the suspects since the beginning of 2020. The review list includes 34 individuals, among whom are 10 suspects arrested last month.

Previous report, on August 17, Singapore uncovered the largest money laundering case in recent years, with total assets involved amounting to approximately 1 billion, and 10 individuals including the founder of New Treasure Investment, Su Baolin, were arrested.