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 of money laundering for individuals under Section 54 of the CDSA 1992 is punishable with imprisonment for up to 10 years, or a fine of up to $500,000, or both. The offence of forgery for the purpose of cheating under Section 468 of the Penal Code 1871 is punishable with imprisonment of up to 10 years and the offender shall also be liable to a fine.