Singapore focuses on money laundering laws, denies China pressure

Case involving Chinese suspects with $2bn illicit gains spurs regulatory review

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The Monetary Authority of Singapore will look into whether further measures are necessary to ensure Singapore's approach to single family offices remains rigorous. © Reuters

DYLAN LOH, Nikkei staff writer

SINGAPORE -- Singapore on Tuesday said it will be reviewing its legal framework over financial crimes, amid an ongoing probe into one of the biggest money laundering cases in the Asian financial hub.

The ruling People's Action Party clarified the government's stance in parliament, as scrutiny rises over the city-state's role in harboring dirty money at a time when more and more investors and high-net-worth individuals are parking their assets in the country.

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