Dozens of questions from the Singapore parliament about the headline money laundering case will be addressed by the ruling government in October, in a rare move to postpone answers.
Dozens of questions about the S$2.4 billion ($1.8 billion) money laundering case will be answered in a statement in October, Minister of State for Home Affairs Sun Xueling told the Singapore parliament earlier this week. This includes oral replies to 32 questions and written answers to another 11 questions.
Sue sought permission from the speaker of parliament for various ministries to comprehensively respond to the headline scandal. There were various issues raised including tighter controls for high risk «golden passport» jurisdictions and procedures for investment entities that receive tax incentives, such as family offices.
10 individuals have been arrested and are undergoing trial for money laundering and other charges. Thus far, the alleged launderers have reportedly used the following banks in some form: Julius Baer, Credit Suisse, RHB Bank, UOB, Bank of Singapore, CIMB, Citi, DBS and Deutsche Bank.
