Singapore uncovers the largest Money Laundering case in history, involving an amount as high as 12.8 billion yuan.

Singapore recently uncovered an unprecedented money laundering case, with the amount involved rapidly rising from an initial 5.4 billion yuan to 12.8 billion yuan. The enormity of this figure is shocking, making this case the largest money laundering case in Singapore's history.

As the investigation deepens, law enforcement has launched a large-scale operation. Currently, 10 main suspects have been arrested, and another 8 are on the run and wanted. Among these suspects, many hold dual nationality, and most have connections to the Fujian gang. Even more surprising is that some of them are already wanted criminals in China.

As the case gradually unfolds, a complex criminal network involving online gambling, fraud, and a lavish lifestyle comes to light. The actions of these criminals are more bizarre than many movie plots.

On August 15, after receiving a tip-off, the Singapore police acted immediately. Over 400 law enforcement officers from different departments simultaneously launched searches in various locations across the country, focusing on upscale residential areas such as Bukit Timah and Orchard Road.

The police's seizure results are astonishing: 110 properties, 62 luxury cars, a large quantity of fine wines, 380 million in cash, 68 gold bars, and virtual assets worth 190 million. In addition, more than 250 luxury bags and watches, as well as over 270 pieces of jewelry were confiscated.

The 10 suspects who were arrested all come from the Minnan region of Fujian, China, and are referred to as the "Fujian Gang." This gang has rapidly established itself in upscale areas since arriving in Singapore in 2017, leading a lifestyle of extreme luxury.

Investigations show that this gang uses various methods for Money Laundering. They open stores in high-end shopping malls, ostensibly selling small accessories, but in reality, they use this as a cover for the flow of funds. They also invest heavily in real estate, converting illicit money into legitimate income by buying and selling luxury homes. The sensational transaction of 20 apartments at Corning River Bay last year was orchestrated by this gang.

Another common method of Money Laundering is through casinos. They hire people to gamble at different casinos to launder funds. In addition, they are also involved in various fields such as nightclubs and charitable donations.

As the investigation deepens, it is found that this dirty money mainly comes from online gambling and fraud activities. Among them, Wang Shuiming and Su Haijin are two of the most prominent figures.

Wang Shuiming is known as "Daming General" and is a well-known figure in the online gambling industry. His influence is vast, with multiple online gambling groups under his control, employing over 10,000 people, comparable in scale to large technology companies. It is reported that a single group can receive approximately 5 billion yuan in gambling funds from gamblers each month.

In contrast, Su Haijin is more high-profile. He often participates in social activities, sponsors charity golf tournaments, and even spends a lot of money to purchase the title of honorary president of organizations. He holds multiple passports and owns properties in several countries and regions.

The outbreak of this case has had a significant impact on Singapore. It not only exposed the country's vulnerabilities in anti-money laundering and visa screening but also posed a challenge to the reputation of its financial center. Many Singaporeans expressed anger over this, believing that these illegal funds have exacerbated inflation and harmed the interests of ordinary people.

The Singaporean government attaches great importance to this matter. Minister of Law and Home Affairs K. Shanmugam stated that regulations will be strengthened to prevent Singapore from becoming a Money Laundering haven. He emphasized that although there is a significant flow of funds globally, not all funds are clean, but Singapore's law enforcement actions demonstrate the government's determination.

The banking industry also responded quickly. Several banks began closing customer accounts from specific countries and strengthened account opening and transaction reviews. This not only affected citizens of the countries involved but also extended to some innocent Chinese clients.

Visa processing has also become stricter. According to reports, the difficulty for Chinese applicants to obtain a Singapore visa is increasing, with more stringent scrutiny of applicants' assets and income.

In the cryptocurrency industry, the involvement of gangs using USDT for Money Laundering has further deepened the negative image of virtual currencies. It is expected that Singapore will strengthen its regulation of virtual currencies in the future.

Regarding the handling of the assets involved in the case, the lawyer stated that these assets will be confiscated after the case is concluded. However, before that, if the victims can prove ownership of the assets, regardless of nationality, they can apply to the Singapore court for their return.

For the defendants, once convicted, they will serve their sentence in Singapore. After completing their sentence, they will be deported back to their passport-holding country or sent to a country that has an extradition agreement with Singapore.

This case has not only shocked Singaporean society but has also drawn global attention. It serves as a reminder of the importance of combating transnational crime and maintaining financial order in today's era of financial globalization. At the same time, it highlights the urgency of strengthening international cooperation and improving regulatory mechanisms.