The seizures comes as China cracks down on what it considers massive crime rings that have extended beyond its shores as more of its citizens leave home. Across Asia, nations from Singapore to Myanmar are grappling with scams and money-laundering cases that have spilled out from the world’s second-largest economy. Singapore in particular is seeing its biggest money laundering case play out with more than $3 billion of assets confiscated from ethnic Chinese in the city-state so far.
Three Chinese nationals working in Singapore sued a remittance firm after police in the mainland froze money they had transferred home, as China ramps up efforts to root out alleged money laundering and other illicit activities.
The trio are seeking 347,501 yuan ($65,668.34) from Samlit Moneychanger Pte, as part of other claims, alleging a breach of agreements, according to a suit filed to the city-state’s courts in October and obtained by Bloomberg News. Samlit denied the allegations. It said it fulfilled its obligations and can’t be responsible for what happens after money reaches designated accounts in China, according to court documents.
