Currently, law-enforcement authorities face challenges in obtaining evidence from victims and authorities overseas, especially when criminal proceeds come from other jurisdictions, according to a press release from the Ministry of Home Affairs.
Singapore introduced legislation designed to tighten gaps around policing illicit money flows after a high-profile case that rocked the Asian financial hub.
The new bill will allow authorities to prosecute suspected offenders more effectively, without the need to directly link illicit gains to the original crime, according to the Anti-Money Laundering and Other Matters Bill proposed in parliament Tuesday.
