Forum: Crackdown on money laundering will deter criminals

I strongly believe that the recent huge money laundering case was investigated on the initiative of the Singapore authorities and not because of the Chinese Foreign Minister’s August visit (Investigation did not arise from external pressure: Shanmugam, Sept 11).

The police have taken control of more than $1.8 billion in assets after arresting 10 foreigners following an islandwide raid, and a network of more suspects has been added to the wanted list. Such a complex case and sizeable network of people would have taken the police months to investigate.

Most foreign nationals who live here with their families know that it is foolhardy to carry out illegal activities in Singapore, as the authorities are very efficient.  

A friend who recently wanted to pay for his new Mercedes-Benz in cash was told by the salesman that such a transaction would have to be reported to the authorities as part of checks. This shows how strict Singapore is in enforcing money laundering laws.

Some of these international crime syndicates like to operate and park their money in Singapore because of factors such as our strong currency.

Let this crackdown on money laundering be a strong deterrent for would-be criminals thinking of operating in Singapore.

Harry Ong Heng Poh

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