Inflation Impact on Assets Resulting from Billion-dollar Money Laundering Case Currently under Investigation

30 Mr Saktiandi Supaat asked the Minister for Home Affairs (a) whether any studies will be initiated to look into the inflation impact caused by the alleged billion-dollar money laundering activities that are being investigated, either in relation to the real estate or other assets that have been seized; and (b) if not, why not.

Mrs Josephine Teo: This query relates to the recent anti-money laundering operations conducted by the Police and Singapore’s anti-money laundering framework. The Ministerial Statement on Singapore’s Anti-money Laundering Regime at the Sitting on 3 October 2023 has addressed this query. [Please refer to "Singapore's Anti-Money Laundering Regime", Official Report, 3 October 2023, Vol 95, Issue 113, Ministerial Statements section.]