Short, Simple and Interesting FAQs
In Singapore, money laundering is defined as the process of disguising the origins of illegally obtained funds to make them appear legitimate. It involves a series of activities intended to obscure the true source of the funds, making it difficult to trace them back to their criminal origins. Money laundering is considered a criminal offense … Read more
Yes, money laundering is illegal in Singapore. Money laundering involves the process of making illegally obtained funds appear legitimate by disguising their true origins. The act of money laundering is considered a serious criminal offense in Singapore, and it is punishable by law. The primary legislation that addresses money laundering in Singapore is the Corruption, … Read more
Money laundering is a serious criminal offense in Singapore, and those convicted of money laundering can face severe penalties. The specific penalties for money laundering in Singapore are outlined in the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (CDSA) and the Terrorism (Suppression of Financing) Act (TSFA). If convicted, the offence … Read more