I love his explanation: if you want to clean your dirty laundries you need to choose a good brand washing machine. This explains everything

Singapre is a paradise for money laundry. haha

The $2B money laundering case shows Singapore 🇸🇬 is a haven for Chinese money laundrers. This is only a floating part of an iceberg.

Last year, the Philippines 🇵🇭 authorities closed 175 Chinese gambling organizations, and deported 40,000 Chinese nationals who entered into the country and worked illegally, many as *online scammers and other shady activities.*

The 10,000 Singapore dollar bill is often used to transport dirty money

Trillion dollars business that keep the island afloat

7:39 In a nutshell, if dirty monies flow in, clean funds won't.

These are high class criminals who play around the loop holes in the system to make them look "clean".

Oh, this is a very different theme from what Steven often investigates :)

This latest case started in 2017 but actions against the perpetrators were taken only in 2023. It take well over five years to detect and for actions to be taken. This begs the question of how robust our system is against money laundering.

Also PRC nationals fleeing their country, there's not that many ways to legally transfer their assets overseas. Popular destinations like Vancouver, New Zealand, Australia are being flooded with all these monies buying up local real estate at exorbitant prices. Rising up housing/rent value for everyone else making them unaffordable.

Lol property agents doing “ due diligence “

How does a director of 186 firms not be in the spotlight and get away for such a long time??

And new cases continue to be exposed , even one of the worlds biggest criminals has been found living in Singapore for some time

Very interesting 🤔

How they get so much money to launder, why no one is reporting on that ?

I think it unspoken market that SG is the best place to cuci duit

Due diligence at the auction? How is payment made for the items? Can it also be a conduit for money laundering?

Luxury tax for transaction of luxury items can fast to detect individual purchase and recorded

When you wanted to become an investigator but life makes you a journalist 🗿

just wondering if it is possible to do stringent background checks before such "money" enters our system?

Until the culprit accumulated so much wealth only the authority discovered. Mean Singapore system still got many loop holes. I would suggest penalized the respective parties who was involved with the respective back dated high value properties transactions.

19:29 I believe the photo shows a collection of Macallan whisky....

With Singapore being such a tiny country and having well-known stringent laws, I find it extremely hard to believe the government and authorities did not know about such scams taking place for so long. Do you mean they totally didn't do any background checks when the money launderer bought 10 premium condos costing like S$60-$80 million at one go? Or if someone purchases a GCB for $60 million and above it's ok? No further checks need be done? Don't kid me. The authorities must have admitted tons of super wealthy people to this country that all of them could enter through the cracks. It gives me the feeling that as long as one has lots of money, despite doing something illegal, the ability to breeze through the law is easy. Remember that China Chinese tour guide who scammed an old wealthy woman with dementia? How did he get his PR so easily? He attached himself to her and the authorities foolishly thought he was really rich. Hence, the PR approval. The SG government are not doing their job properly. The consequences can be felt immediately. Now I know why prices of private as well as public properties have been soaring so quickly. It's because of all these rich people they have admitted over the years. As a Singaporean, I feel frustrated to realise that some of them turned out to be scammers. ☹

If you eliminate dirty money in Singapore, the economy would collapse.

9:01 Sellng to high net worth PRC? According to the Chinese law, each person is only allow to wire US$50,000 per annuum. Having said that, big monies are moved illegitimately out of China e.g. through underground bankers in Macau. Isn't this controversial? The unreasonably tight laws in China make everthing appear illegal and their authority are enforcing it internationally.

No one is checking the property agent, so there is "lobang" lar.

11:50 english subtitles translate "over a thousand" to "over a th000" lol

Wow 152 properties in SG waiting to be auctioned - will the bid price be low or high😅

And those doing the money laudering will be watching this Documentary with a big smile,coz this video just shows them how the authority tracks them down and catches them. Now all they will do now is learn from it and improve their tactics for defeat the authority and be one step ahead of them.

My impression is that nothing much is done unless information becomes publicly available (i.e, the breaking of the 1MBD scandal). I had cause to try to source information about a Singaporean private company online and had no success. I wanted to find out who the directors and shareholders were and location of the registered office. The company was involved in internet fraud using Facebook.

Still leaves more questions than answers

If the MAS was vigilant i wonder how this vould happen. If it was true this is a case linked to a VVIP family i hope there will be transparency. Otherwise they are arrested and we hear nothing more after that.

RM one sentence ‘My client is paying your salary’ can KO KYC department . But I feel this $2 b case the water is very very deep let see how deep can our government dig. 😂

IMF has a set of rules for country tackling money washing which I believe countries should follow. Also IMF is the world body responsible. You folks have a just elected president who was once the Chairman of IMF.

My question is what about fake items, non consumable of course. Will they be sold or be destroyed?

The COO David Lim in the most famous case in An Xing scammed me earlier and made me look like the criminal he stole cheques, SMS credits

Singapore 🇸🇬 should be more worried about China in the SCS than the Hamas-Israel conflict. - The $2B Chinese money laundering case was another example.

The Tour was arranged by Fortune Tours and Travels in Kochi(Cochin) City, Kerala State, Republic of India

This is probably the only best sense to explain "sensible dictatorship" for Singapore 😂😂😂

The pricing of the economy suffers with these dirty monies. Housing properties prices are jacked up hence

How about Taiwan President Chen Shui Bian? His money had also been transferred in and out Singapore Banking Systems before he got caught. Also Morgan Stanley Economists Andy Xie in-house memo incident let him booted out. 😂

PM Lee’s conflation of marital infidelity to corruption is a clever sleight of hand. He equated all of the PAP’s scandals - the Ridout Road conflict of interest, Iswaran’s alleged graft and Tan’s marital infidelity - with the Workers’ Party’s one scandal - an episode of marital infidelity that ended years ago. If Lee was already aware of Tan’s affair in 2020, why did he wait until February 2023 to have a ‘hard conversation’ with him?

MAS chief not accountable? ... 1MDB, now Fujian gang... Have to wait for 10 more cases?

many many more cases lah, just never dig up only. what about the proceeds from the Golden Triangle ? Since SG ban Russia then why not ban the bank accounts of all those Myanmar generals ?

Hey cna, the ic and dob wasn’t blurred out properly …

Its indeed not a new things in Singapore. there is a lot dirty money from Indonesia pouring into singapore. All that come from corruption.

Singapore made great economic progress from 1965 to 2019. But the economic model, who created this great economic progress, is now obsolete. Singapore profited greatly from the waves of Chinese tourists from the mainland. In 2018, I spent one month in Australia. On my way back to Canada, I stopped in Singapore. I was shocked by the huge number of luxury shops with lines of Chinese waiting outside to come in! The COVID pandemic put an end to this influx of money from China. Singapore is a divided society, with 20% ultra-wealthy and 80% not-so-wealthy people. There is a housing crisis: not enough affordable housing and rampant housing speculation. In the past months, Singapore has been rocked by cases of ministerial corruption, and money laundering! There is something wrong in the state of Singapore !

Canada should use some of these techniques to reduce money laundering in the country

should interview that kelvin who decked himself out in "celine" clothings and AP watches

Now when i see people driving nice cars like Rolls Royce in Singapore i will question myself are they in money laundering...

its quite bs, when the suspects had 100+ properties…which are easily suspicious and can be checked.

I wonder where these seized monies go to? MOF?

Hdb goes above millions now..interesting

Money laundering is hard to fight.. with AI, it’s even more tougher. Honestly we can only do so much.

Am curious. What does the Singapore government do with the confiscated money and assets of those criminals?🤔

the comments section raises more relevant questions than the documentary, CNA being a mouthpiece, gain

Just imagine how many others all these years

Aric is good at acting blur lol

....one near foolproof anti-scam action is for the govt is to adopt and inform the public that all cool call from all govt agencies MUST BE FROM LAND LINE. The logic is why would the public servants of govt agencies MAKE OFFICIAL ADM/EFFORTMENT CALL from hand phone???

If a trust bought the property a trustee who initiated the transaction doesn't necessarily need to be related to the beneficiary. Looks like this is one of the major reasons why Western countries are having a housing affordability crisis.

at least in SG they caught him, meanwhile in Indonesia the money launderer will be lobbying the politician to support them

What if bad guys are ones buying back the acution items it means gov is rendering assistance to wash dirty money

I'm surprised he didn't say "how does it affect you" and then explain that it helps the Singapore economy because it's highly profitable for Singapore 😅😂

How much money got siphoned from the 1MDB case until the Singapore authorities did actually intervene. If its enrich the Singaporean, then its ok as far as they were concerned.

Tip of the ice berg.

105 HIGH END Properties Bought since 2017 NO RED FLAGS ? CPIB In DEEP SLUMBER for PAST 6 yrs ?

Dear CNA, it’s good to educate the public but why are you revealing your detection strategies to potential money launderers? This is akin to a quant hedge fund revealing its trading strategies or SG Govt revealing the exact criteria for citizenship.

A crash and bullish market provides equal high-yield potential, it's all about information and strategy application, l've seen folks make huge 7figure profit in a crashing market and pullit off much easily in a bull market Unequivocally the crash/recession is getting somebody somewhere rich.

Happens everyday,

A bit uncomfortable with the deep fingerprinting done by this "tech provider". Also the flags such as "Android emulator" and "More than two consecutive users" can easily raise false positives. Important to have a light touch with these operations. Also worth noting that "smurfing" has meanings outside financial forensics, as in video games it refers to a high-skilled player playing on an alternate account with a lower skill-rating. In general it can be taken to mean "making oneself appear smaller than they really are".

Casino got more please

Zero corruption? Really? Let’s get real.

I worry the past SG gdp that escaped recession (consecutive 2 quarters of negative) was helped by Dirty Money washed in the mighty singapura😅

Who let them use the laundrymats in the first place? Don't pretend lah. Never arrest the laundromat operator?

this is a good lesson to the gahmen to scrutinise the foreigners who could invest heavily in Singapore like buying houses. and please don't give out PR and citizenship freely anymore

I bet they inside people in local banks to help them then one day a whistleblower reported them.

Why chose Singapore? Obviously it is a tax haven with no scruple of accepting dirty money. The one and only matters is money pouring into the the city state to keep the status as financial hub. The legitimacy is secondary!

If you watched breaking bad... then you already know what money laundering is

So who gets the money from the auctions? Authorities? Someone's pocket?

Swiss standard means actually what ah?😅

I have been in Malaysia and Singapore this year (2023AD) July 27th (Thursday) to August1st (Tuesday)

The e.g. where Huttons demonstrated AML check of their clients. the guy said they check for Politically Exposed Persons and US Sanctions list. If only these 2 sources were being checked, it explains and infer we may have much more to dig 😂

Good reputation or haven lol yikes!

Is waran involved or not?

Love you ride sir. Looks like an early Mercedes Benz. W108 or 109?

Ferrari can be a good washing machine now by accepting crypto.

So is FTX case deemed as another category of money laundering scam?

oh no!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Canada please be all safe.

The money launderes all don't live in hdb, it is really irrelevant to most people but the very rich.

JFC what is with this Steve Chia? He could have asked serious probing questions of the conduct of Real Estate and banking professionals, but he decides to turn it into this inane luxury lifestyle piece about the illicit goods.

Missing the casinos?

Because behind have Singaporean people support

I have met far wiser vagabond monks living ascetically in rural areas who are better human beings than the shallow urban dwellers who are materialistically jet setting but spiritually lacking in finesse and form.

Have Satosi Nakamoto aka Craig Wright put your economy on BSV, the real bitcoin to solve your problems.

Laundromats to launder money.

You auction. It. The winner will be the same person or associate involve

The interviewer and interviewer are just reading text book qna about money laundering. Can just save time and google it😊

Do not get caught with the USA game to destroy other countries, such as Swiss economy by come up with a game that will make banking is not comfortable experience for anyone anymore. Singapore economy is a perfect target to destroy with this scheme. Money inherently needs some privacy.