Singapore Law Enforcement Seize Illegal Gambling Proceeds of Almost S$3 billion in Two Months

Latest news out of Singapore says police have now seized assets belonging to illegal gambling and money laundering related to organised crime in the amount of $1.76 billion.

Those assets seized police say are S$76 million in cash, 68 gold bars, S$38 million in cryptocurrency along with some 110 properties belonging to the group and 62 vehicles worth over S$1.2 million.

The latest raids are part of a wider investigation running for months now that in August saw 10 overseas nationals arrested in connection to money laundering.

At the time police said those arrested were laundering proceeds from online gambling and other scams. In those raids police seized similar type assets worth some S$1 billion and those arrested help passports in Cyprus, Cambodia, Dominica, China and Turkey, although it is not clear if those passports were not fake.

Over recent months law enforcement in Singapore have been cracking down on illegal gambling and money laundering gangs with the total assets seized to date hitting almost S$3 billion.