Singapore seizes $735m of assets in anti-money laundering probe

Singapore constabulary person seized astir S$1bn ($735m; £578m) - including luxury homes, cars and currency - successful 1 of its biggest anti-money laundering probes.

Among the items seized successful the raid were luxury cars, decorator handbags and $17m (£13.3m) successful cash.

Police arrested 10 radical successful the operation, each of whom held overseas passports.

Raids of this size are uncommon successful Singapore, which has 1 of the lowest transgression rates successful the world.

It added that 94 homes, including houses successful immoderate of the country's astir sought aft areas, were seized, on with 50 vehicles.

Ten people, aged betwixt 31 and 44, were arrested for alleged wealth laundering and forgery offences. Police said that those arrested had passports from China, Cambodia, Turkey and Vanuatu.

The radical was "suspected to beryllium progressive successful laundering the proceeds of transgression from their overseas organised transgression activities including scams and online gambling," according to the police.

"We person zero tolerance for the usage of Singapore arsenic a harmless haven for criminals," said David Chew, manager of the police's Commercial Affairs Department, which investigates white-collar crime.

"Our connection to these criminals is elemental - if we drawback you, we volition apprehension you. If we find your ill-gotten gains, we volition prehend them. We volition woody with you to the fullest grade of our laws," helium added.

Police said different 12 radical were assisting with investigations, portion 8 others are presently connected its wanted list.

It added that it would instrumentality "firm action" against institutions which did not conscionable authoritative anti-money laundering requirements.