It seems that the Singapore police have uncovered a fairly large money laundering case. It is said to be related to the Taishi Group, covering the period from last November to the early part of this year. Three Singaporeans have been arrested, and it is also reported that a female Singaporean, Chen Siu-lin, has an arrest warrant issued against her.

What’s astounding is the scale of the assets that were seized. Initially, more than 150 million Singapore dollars were ordered to be frozen, and afterward, three more properties, eight cars, cash, bank accounts, securities accounts, luxury bags, and watches were also seized. Including the additional assets, the total amount is said to be equivalent to 350 million Singapore dollars. Altogether, it exceeds 500 million Singapore dollars, which is about 27 billion Japanese yen.

This kind of money laundering crackdown at such a scale is quite rare. Could Singapore’s financial regulations be getting even stricter?