Questions arise as accused in S$2.8B money laundering case open firms in Singapore seeking ‘safer haven’

The ACRA is actively engaging corporate service providers (CSPs) in an ongoing money laundering probe. Serangoon resident Amy Chin’s involvement as a director or shareholder in over 200 companies has raised eyebrows, with each firm’s setup earning her approximately S$50.

This revelation sparks concerns about the ease with which accused individuals established shell companies in Singapore for a potential “safer haven.”