Singapore Seizure Tops $2 Billion as Laundering Probe Widens (2)

Singapore authorities seized or froze assets worth more than S$2.8 billion ($2 billion) in one of the city-state’s largest money laundering investigations, a senior official said on Tuesday while signaling the government could tighten immigration rules to curb illicit inflows.

The amount disclosed to parliament by Second Minister for Home Affairs Josephine Teo is higher than the S$2.4 billion previously announced. The assets included 152 properties, 62 vehicles, thousands of bottles of liquor, cryptocurrencies, gold bars and jewellery.

The probe, which saw 10 foreigners with Chinese origins charged in August for alleged forgery and laundering proceeds from scams and illegal ...