Singapore Seizes $4.4 Billion in Illicit Funds Since 2019

New strategy focuses on asset recovery and combating sophisticated financial crimes to maintain the city-state's reputation.

Prime Minister Lawrence Wong emphasizes the need for ongoing vigilance against money laundering and terrorism financing risks.
The government has returned S$416 million to victims and forfeited S$1 billion to the state.
Last year's S$3 billion money laundering case highlighted the complexity and international scope of financial crimes.
Singapore's banking and wealth management sectors are under increased scrutiny to prevent exploitation by criminals.
Authorities are enhancing partnerships with international counterparts and private sector stakeholders to improve asset recovery.