🕷️ Crawler Inspector

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Raw Queries and Responses

1. Shard Calculation

Query:

Response:

Calculated Shard: 143 (from laksa182)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa143.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://www.insurancejournal.com/news/international/2024/06/20/780456.htm\')), getAhrefsUnparsedNoserviceFromURL(\'https://www.insurancejournal.com/news/international/2024/06/20/780456.htm\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/www.insurancejournal.com\/news\/international\/2024\/06\/20\/780456.htm","crawl_time":1775609180,"first_indexed_time":1718877849,"http_code":200,"src_unparsed":"com,insurancejournal!www,\/news\/international\/2024\/06\/20\/780456.htm s443","src_root_hash":"7740706156215403143","history_drop_reason":null,"meta_title":"Singapore Highlights Banks as Posing Highest Money Laundering Risk","meta_descriptions":["Singapore's banking sector, including wealth management, poses the highest money laundering risk in the city-state, the government said in a money"],"attrs_boilerpipe_text":"Singapore’s banking sector, including wealth management, poses the highest money laundering risk in the city-state, the government said in a money laundering risk assessment report published on Thursday.\nBanks had higher exposure to money laundering threats and could be more easily exploited due to the sheer volume of transactions they handle and their exposure to customers from high-risk jurisdictions, the home affairs ministry, the central bank and the finance ministry said in a statement.\nThis is the latest national risk assessment report since the previous one was published in 2014. The findings in the updated report will guide ongoing efforts to ensure that Singapore’s anti money laundering regime “keeps pace with the identified risks.”\nThe report comes after Singapore busted a $2.24 billion money laundering ring run by foreigners, with the last of 10 offenders sentenced on June 10.\nThe criminals held money in bank accounts in Singapore and converted some into real estate, cars, handbags and jewelry.\nSince the money laundering case emerged last year, the government has set up an inter-ministerial panel to review the anti-money laundering regime and sharpened their policing of the inflows of wealth and wealthy individuals.\nIn the new risk assessment report, Singapore said its key money laundering threats stemmed from fraud – particularly cyber-enabled fraud – organized crime, corruption, tax crimes and trade-based money laundering.\nThe report also identified new risk sectors not included in the last report. These are digital payment token services providers and precious stones and precious metal dealers.\n“Singapore’s position as an international financial center and as a trading and transit hub with a highly externally oriented economy exposes it to the risks of criminals exploiting our economic openness, financial system and business infrastructure to launder or move illicit funds and assets,” the joint statement said.\nSingapore has benefited from strong inflows of wealth into Asia due to its political stability, low taxes, and policies favorable towards family offices and trusts.\nThe Asian financial hub had assets under management of S$4.9 trillion ($3.6 trillion) in 2022. As at end 2022, 76% of Singapore’s assets under management originated from outside Singapore.\nThe number of family offices or one-stop firms that manage the portfolios of the wealthy in the city-state rose to around 1,400 last year from 1,100 a year ago, according to government statistics.\n($1 = 1.3513 Singapore dollars)\n(Reporting by Yantoultra Ngui and Xinghui Kok; editing by Stephen Coates)","attrs_markdown":"[Skip to content](https:\/\/www.insurancejournal.com\/news\/international\/2024\/06\/20\/780456.htm#main)\n\n- [MyNewMarkets.com](https:\/\/www.mynewmarkets.com\/)\n- [Claims Journal](https:\/\/www.claimsjournal.com\/)\n- [Insurance Journal TV](https:\/\/www.insurancejournal.tv\/)\n- [Academy of Insurance](https:\/\/www.ijacademy.com\/)\n- [Carrier Management](https:\/\/www.carriermanagement.com\/)\n\n[![Insurance Journal - Property Casualty Industry News](https:\/\/www.insurancejournal.com\/img\/insurance-journal-logo-680.png)](https:\/\/www.insurancejournal.com\/)\n\n### Featured Stories\n- [NTSB: Hands-Free Driving Does Not Improve Safety](https:\/\/www.insurancejournal.com\/news\/national\/2026\/04\/06\/864531.htm)\n- [Old Republic Opens New Specialty Property Insurer](https:\/\/www.insurancejournal.com\/news\/national\/2026\/04\/06\/864581.htm)\n\n- [Articles](https:\/\/www.insurancejournal.com\/news\/international\/2024\/06\/20\/780456.htm#search-news)\n- [Jobs](https:\/\/www.insurancejournal.com\/news\/international\/2024\/06\/20\/780456.htm#search-jobs)\n- [Markets](https:\/\/www.insurancejournal.com\/news\/international\/2024\/06\/20\/780456.htm#search-markets)\n\n### Current Magazine\n[![current magazine](https:\/\/d6zxf491dr98g.cloudfront.net\/img\/magazines\/120\/ije_20260323.png)](https:\/\/www.insurancejournal.com\/magazines\/insurance-journal-west-2026-03-23\/)\n\n- [Read Online](https:\/\/www.insurancejournal.com\/magazines\/insurance-journal-west-2026-03-23\/)\n- [Subscribe](https:\/\/www.insurancejournal.com\/members\/pro)\n- [Login](https:\/\/www.insurancejournal.com\/members\/login)\n\n- [Front Page](https:\/\/www.insurancejournal.com\/)\n  - [National](https:\/\/www.insurancejournal.com\/news\/national\/)\n  - [International](https:\/\/www.insurancejournal.com\/news\/international\/)\n  - [Most Popular](https:\/\/www.insurancejournal.com\/mostpopular\/)\n  - [Magazine](https:\/\/www.insurancejournal.com\/magazines\/)\n  - [Forums](https:\/\/www.insurancejournal.com\/forums\/)\n  - [Blogs](https:\/\/www.insurancejournal.com\/blogs\/)\n  - [Videos\/Podcasts](https:\/\/www.insurancejournal.tv\/)\n  - [Newsletters](https:\/\/www.insurancejournal.com\/subscribe\/)\n- [News](https:\/\/www.insurancejournal.com\/news\/)\n  - [Most Popular](https:\/\/www.insurancejournal.com\/mostpopular\/)\n  - [National](https:\/\/www.insurancejournal.com\/news\/national\/)\n  - [International](https:\/\/www.insurancejournal.com\/news\/international\/)\n  - [East](https:\/\/www.insurancejournal.com\/news\/east\/)\n  - [Midwest](https:\/\/www.insurancejournal.com\/news\/midwest\/)\n  - [South Central](https:\/\/www.insurancejournal.com\/news\/southcentral\/)\n  - [Southeast](https:\/\/www.insurancejournal.com\/news\/southeast\/)\n  - [West](https:\/\/www.insurancejournal.com\/news\/west\/)\n- [Magazines](https:\/\/www.insurancejournal.com\/magazines\/)\n- [Research](https:\/\/www.insurancejournal.com\/research\/)\n- [Directories](https:\/\/www.insurancejournal.com\/directories\/)\n- [Jobs](https:\/\/www.insurancejournal.com\/jobs\/)\n- [Features](https:\/\/www.insurancejournal.com\/news\/international\/2024\/06\/20\/780456.htm)\n  - [Events](https:\/\/www.insurancejournal.com\/events\/)\n  - [Forums](https:\/\/www.insurancejournal.com\/forums\/)\n  - [Market Directories](https:\/\/www.insurancejournal.com\/directories\/)\n  - [Quotes](https:\/\/www.insurancejournal.com\/quotes\/)\n  - [Polls](https:\/\/www.insurancejournal.com\/polls\/)\n  - [Rankings & Awards](https:\/\/www.insurancejournal.com\/rankings\/)\n  - [Insurance Giving Back](https:\/\/www.insurancejournal.com\/charity\/)\n- [Subscribe](https:\/\/www.insurancejournal.com\/subscribe\/)\n\n# Singapore Highlights Banks as Posing Highest Money Laundering Risk\nBy [Yantoultra Ngui](https:\/\/www.insurancejournal.com\/author\/yantoultra-ngui\/ \"Posts by Yantoultra Ngui\") and Xinghui Kok \\| June 20, 2024\n\n![](https:\/\/www.insurancejournal.com\/app\/uploads\/2024\/06\/money-laundering-concept-117034976-bigstock-580x435.jpg)\n\n[Email This](<mailto:?subject=Singapore Highlights Banks as Posing Highest Money Laundering Risk&body=Singapore Highlights Banks as Posing Highest Money Laundering Risk%0Ahttps%3A%2F%2Fwww.insurancejournal.com%2Fnews%2Finternational%2F2024%2F06%2F20%2F780456.htm>)    [Subscribe to Newsletter](https:\/\/www.insurancejournal.com\/subscribe\/)\n\n- [Article](https:\/\/www.insurancejournal.com\/news\/international\/2024\/06\/20\/780456.htm)\n\nSingapore’s banking sector, including wealth management, poses the highest money laundering risk in the city-state, the government said in a money laundering risk assessment report published on Thursday.\n\nBanks had higher exposure to money laundering threats and could be more easily exploited due to the sheer volume of transactions they handle and their exposure to customers from high-risk jurisdictions, the home affairs ministry, the central bank and the finance ministry said in a statement.\n\nThis is the latest national risk assessment report since the previous one was published in 2014. The findings in the updated report will guide ongoing efforts to ensure that Singapore’s anti money laundering regime “keeps pace with the identified risks.”\n\nThe report comes after Singapore busted a \\$2.24 billion money laundering ring run by foreigners, with the last of 10 offenders sentenced on June 10.\n\nThe criminals held money in bank accounts in Singapore and converted some into real estate, cars, handbags and jewelry.\n\nSince the money laundering case emerged last year, the government has set up an inter-ministerial panel to review the anti-money laundering regime and sharpened their policing of the inflows of wealth and wealthy individuals.\n\nIn the new risk assessment report, Singapore said its key money laundering threats stemmed from fraud – particularly cyber-enabled fraud – organized crime, corruption, tax crimes and trade-based money laundering.\n\nThe report also identified new risk sectors not included in the last report. These are digital payment token services providers and precious stones and precious metal dealers.\n\n“Singapore’s position as an international financial center and as a trading and transit hub with a highly externally oriented economy exposes it to the risks of criminals exploiting our economic openness, financial system and business infrastructure to launder or move illicit funds and assets,” the joint statement said.\n\nSingapore has benefited from strong inflows of wealth into Asia due to its political stability, low taxes, and policies favorable towards family offices and trusts.\n\nThe Asian financial hub had assets under management of S\\$4.9 trillion (\\$3.6 trillion) in 2022. As at end 2022, 76% of Singapore’s assets under management originated from outside Singapore.\n\nThe number of family offices or one-stop firms that manage the portfolios of the wealthy in the city-state rose to around 1,400 last year from 1,100 a year ago, according to government statistics.\n\n(\\$1 = 1.3513 Singapore dollars)\n\n(Reporting by Yantoultra Ngui and Xinghui Kok; editing by Stephen Coates)\n\nCopyright 2026 Reuters. [Click for restrictions](https:\/\/www.insurancejournal.com\/terms\/#reuters).\n\nWas this article valuable?\n\nYes\n\nNo\n\nHere are more articles you may enjoy.\n\n[![](https:\/\/www.insurancejournal.com\/app\/uploads\/2026\/03\/LUCY-autonomous-insurance-150x150.png)Dei Primus Holdings Launches LUCY, a Fully Autonomous Insurance Carrier](https:\/\/www.insurancejournal.com\/news\/national\/2026\/04\/01\/864174.htm)\n\n[![](https:\/\/www.insurancejournal.com\/app\/uploads\/2026\/04\/Biscayne-Bay-Adobe-150x150.jpeg)Agency Customer Rep and Miami Businessman Killed in Separate Boat Accidents](https:\/\/www.insurancejournal.com\/news\/southeast\/2026\/04\/01\/864146.htm)\n\n[![](https:\/\/www.insurancejournal.com\/app\/uploads\/2024\/05\/insurance-fraud-150x150.jpg)New York Restaurateur Charged In No-Fault Auto Insurance Fraud Scheme](https:\/\/www.insurancejournal.com\/news\/east\/2026\/04\/02\/864405.htm)\n\n[![](https:\/\/www.insurancejournal.com\/app\/uploads\/2026\/04\/Hasbro-Nerf-toy-Deposit-150x150.jpg)Toymaker Hasbro Reports Cybersecurity Incident](https:\/\/www.insurancejournal.com\/news\/east\/2026\/04\/02\/864475.htm)\n\n#### The most important insurance news, in your inbox every business day.\nGet the insurance industry's trusted newsletter\n\n[Email This](<mailto:?subject=Singapore Highlights Banks as Posing Highest Money Laundering Risk&body=Singapore Highlights Banks as Posing Highest Money Laundering Risk%0Ahttps%3A%2F%2Fwww.insurancejournal.com%2Fnews%2Finternational%2F2024%2F06%2F20%2F780456.htm>)    [Subscribe to Newsletter](https:\/\/www.insurancejournal.com\/subscribe\/)\n\n- **Categories:** [International & Reinsurance News](https:\/\/www.insurancejournal.com\/news\/international\/)**Topics:** [money laundering](https:\/\/www.insurancejournal.com\/topics\/money-laundering\/), [Risk Management](https:\/\/www.insurancejournal.com\/topics\/risk-management\/)\n- *Have a hot lead? Email us at [newsdesk@insurancejournal.com](mailto:newsdesk@insurancejournal.com)*\n\nMore News\n\n[![](https:\/\/www.insurancejournal.com\/app\/uploads\/2026\/04\/Google-Gemini-Bloomberg-150x150.jpg)Google Adds Mental Health Tools to Gemini Chatbot After Lawsuit](https:\/\/www.insurancejournal.com\/news\/national\/2026\/04\/07\/864866.htm)\n\n[![](https:\/\/www.insurancejournal.com\/app\/uploads\/2014\/06\/oil_spill-150x150.jpg)California AG Opposing Oil Pipeline Special Permit to Waive Safety Regulation](https:\/\/www.insurancejournal.com\/news\/west\/2026\/04\/07\/864669.htm)\n\n[![](https:\/\/www.insurancejournal.com\/app\/uploads\/2017\/01\/lawsuit-150x150.jpg)Risk Strategies Claims Ex-Employees’ Talent and Customer Raid Has Cost It \\$900K](https:\/\/www.insurancejournal.com\/news\/east\/2026\/04\/07\/864799.htm)\n\n[![](https:\/\/www.insurancejournal.com\/app\/uploads\/2023\/05\/california-workers-comp-150x150.jpg)Strong Underwriting, Investment Income Bolster P\/C Income in 2025, Says Moody’s](https:\/\/www.insurancejournal.com\/news\/national\/2026\/04\/07\/864808.htm)\n\n[More News Features](https:\/\/www.insurancejournal.com\/news\/featured\/)\n\n### Read This Next\n- [Singapore Highlights Banks as Posing Highest Money Laundering Risk](https:\/\/www.insurancejournal.com\/news\/international\/2024\/06\/20\/780456.htm)\n- [Reinsurance Rates Continued Softening During April Renewals, Despite Iran War](https:\/\/www.insurancejournal.com\/news\/international\/2026\/04\/02\/864470.htm)\n- [Sarasota Homeowners Say Breach in County Dike Caused Flooding in Hurricane Debby](https:\/\/www.insurancejournal.com\/news\/southeast\/2026\/03\/30\/863845.htm)\n- [Depreciation on ACV Is OK, Court Says in Knocking Down Class Action vs. Cincinnati](https:\/\/www.insurancejournal.com\/news\/southeast\/2026\/03\/27\/863681.htm)\n- [Iran Warns Gulf Nations of Major Response After Gas Field Strike](https:\/\/www.insurancejournal.com\/news\/international\/2026\/03\/18\/862363.htm)\n\n[See Today's Top Insurance News](https:\/\/www.insurancejournal.com\/)\n\n### Insurance Jobs\n- [Property Adjuster – Field Estimating – St. Louis, MO - 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[Privacy Policy](https:\/\/www.insurancejournal.com\/privacy\/) \\| [Terms & Conditions](https:\/\/www.insurancejournal.com\/terms\/) \\| [Site Map](https:\/\/www.insurancejournal.com\/sitemap\/)","attrs_readable_markdown":"Singapore’s banking sector, including wealth management, poses the highest money laundering risk in the city-state, the government said in a money laundering risk assessment report published on Thursday.\n\nBanks had higher exposure to money laundering threats and could be more easily exploited due to the sheer volume of transactions they handle and their exposure to customers from high-risk jurisdictions, the home affairs ministry, the central bank and the finance ministry said in a statement.\n\nThis is the latest national risk assessment report since the previous one was published in 2014. The findings in the updated report will guide ongoing efforts to ensure that Singapore’s anti money laundering regime “keeps pace with the identified risks.”\n\nThe report comes after Singapore busted a \\$2.24 billion money laundering ring run by foreigners, with the last of 10 offenders sentenced on June 10.\n\nThe criminals held money in bank accounts in Singapore and converted some into real estate, cars, handbags and jewelry.\n\nSince the money laundering case emerged last year, the government has set up an inter-ministerial panel to review the anti-money laundering regime and sharpened their policing of the inflows of wealth and wealthy individuals.\n\nIn the new risk assessment report, Singapore said its key money laundering threats stemmed from fraud – particularly cyber-enabled fraud – organized crime, corruption, tax crimes and trade-based money laundering.\n\nThe report also identified new risk sectors not included in the last report. These are digital payment token services providers and precious stones and precious metal dealers.\n\n“Singapore’s position as an international financial center and as a trading and transit hub with a highly externally oriented economy exposes it to the risks of criminals exploiting our economic openness, financial system and business infrastructure to launder or move illicit funds and assets,” the joint statement said.\n\nSingapore has benefited from strong inflows of wealth into Asia due to its political stability, low taxes, and policies favorable towards family offices and trusts.\n\nThe Asian financial hub had assets under management of S\\$4.9 trillion (\\$3.6 trillion) in 2022. As at end 2022, 76% of Singapore’s assets under management originated from outside Singapore.\n\nThe number of family offices or one-stop firms that manage the portfolios of the wealthy in the city-state rose to around 1,400 last year from 1,100 a year ago, according to government statistics.\n\n(\\$1 = 1.3513 Singapore dollars)\n\n(Reporting by Yantoultra Ngui and Xinghui Kok; editing by Stephen Coates)","meta_canonical":null}

3. Robots.txt Check

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4. Spam/Ban Check

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5. Seen Status Check

ℹ️ Skipped - page is already crawled

📄

INDEXABLE

✅

CRAWLED

8 days ago

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ROBOTS ALLOWED

Page Info Filters

Filter	Status	Condition	Details
HTTP status	PASS	`download_http_code = 200`	HTTP 200
Age cutoff	PASS	`download_stamp > now() - 6 MONTH`	0.3 months ago
History drop	PASS	`isNull(history_drop_reason)`	No drop reason
Spam/ban	PASS	`fh_dont_index != 1 AND ml_spam_score = 0`	ml_spam_score=0
Canonical	PASS	`meta_canonical IS NULL OR = '' OR = src_unparsed`	Not set

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Property	Value
URL	https://www.insurancejournal.com/news/international/2024/06/20/780456.htm
Last Crawled	2026-04-08 00:46:20 (8 days ago)
First Indexed	2024-06-20 10:04:09 (1 year ago)
HTTP Status Code	200
Meta Title	Singapore Highlights Banks as Posing Highest Money Laundering Risk
Meta Description	Singapore's banking sector, including wealth management, poses the highest money laundering risk in the city-state, the government said in a money
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Boilerpipe Text	Singapore’s banking sector, including wealth management, poses the highest money laundering risk in the city-state, the government said in a money laundering risk assessment report published on Thursday. Banks had higher exposure to money laundering threats and could be more easily exploited due to the sheer volume of transactions they handle and their exposure to customers from high-risk jurisdictions, the home affairs ministry, the central bank and the finance ministry said in a statement. This is the latest national risk assessment report since the previous one was published in 2014. The findings in the updated report will guide ongoing efforts to ensure that Singapore’s anti money laundering regime “keeps pace with the identified risks.” The report comes after Singapore busted a $2.24 billion money laundering ring run by foreigners, with the last of 10 offenders sentenced on June 10. The criminals held money in bank accounts in Singapore and converted some into real estate, cars, handbags and jewelry. Since the money laundering case emerged last year, the government has set up an inter-ministerial panel to review the anti-money laundering regime and sharpened their policing of the inflows of wealth and wealthy individuals. In the new risk assessment report, Singapore said its key money laundering threats stemmed from fraud – particularly cyber-enabled fraud – organized crime, corruption, tax crimes and trade-based money laundering. The report also identified new risk sectors not included in the last report. These are digital payment token services providers and precious stones and precious metal dealers. “Singapore’s position as an international financial center and as a trading and transit hub with a highly externally oriented economy exposes it to the risks of criminals exploiting our economic openness, financial system and business infrastructure to launder or move illicit funds and assets,” the joint statement said. Singapore has benefited from strong inflows of wealth into Asia due to its political stability, low taxes, and policies favorable towards family offices and trusts. The Asian financial hub had assets under management of S$4.9 trillion ($3.6 trillion) in 2022. As at end 2022, 76% of Singapore’s assets under management originated from outside Singapore. The number of family offices or one-stop firms that manage the portfolios of the wealthy in the city-state rose to around 1,400 last year from 1,100 a year ago, according to government statistics. ($1 = 1.3513 Singapore dollars) (Reporting by Yantoultra Ngui and Xinghui Kok; editing by Stephen Coates)
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Banks had higher exposure to money laundering threats and could be more easily exploited due to the sheer volume of transactions they handle and their exposure to customers from high-risk jurisdictions, the home affairs ministry, the central bank and the finance ministry said in a statement. This is the latest national risk assessment report since the previous one was published in 2014. The findings in the updated report will guide ongoing efforts to ensure that Singapore’s anti money laundering regime “keeps pace with the identified risks.” The report comes after Singapore busted a \$2.24 billion money laundering ring run by foreigners, with the last of 10 offenders sentenced on June 10. The criminals held money in bank accounts in Singapore and converted some into real estate, cars, handbags and jewelry. Since the money laundering case emerged last year, the government has set up an inter-ministerial panel to review the anti-money laundering regime and sharpened their policing of the inflows of wealth and wealthy individuals. In the new risk assessment report, Singapore said its key money laundering threats stemmed from fraud – particularly cyber-enabled fraud – organized crime, corruption, tax crimes and trade-based money laundering. The report also identified new risk sectors not included in the last report. These are digital payment token services providers and precious stones and precious metal dealers. “Singapore’s position as an international financial center and as a trading and transit hub with a highly externally oriented economy exposes it to the risks of criminals exploiting our economic openness, financial system and business infrastructure to launder or move illicit funds and assets,” the joint statement said. Singapore has benefited from strong inflows of wealth into Asia due to its political stability, low taxes, and policies favorable towards family offices and trusts. The Asian financial hub had assets under management of S\$4.9 trillion (\$3.6 trillion) in 2022. As at end 2022, 76% of Singapore’s assets under management originated from outside Singapore. The number of family offices or one-stop firms that manage the portfolios of the wealthy in the city-state rose to around 1,400 last year from 1,100 a year ago, according to government statistics. (\$1 = 1.3513 Singapore dollars) (Reporting by Yantoultra Ngui and Xinghui Kok; editing by Stephen Coates) Copyright 2026 Reuters. [Click for restrictions](https://www.insurancejournal.com/terms/#reuters). Was this article valuable? Yes No Here are more articles you may enjoy. 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Readable Markdown	Singapore’s banking sector, including wealth management, poses the highest money laundering risk in the city-state, the government said in a money laundering risk assessment report published on Thursday. Banks had higher exposure to money laundering threats and could be more easily exploited due to the sheer volume of transactions they handle and their exposure to customers from high-risk jurisdictions, the home affairs ministry, the central bank and the finance ministry said in a statement. This is the latest national risk assessment report since the previous one was published in 2014. The findings in the updated report will guide ongoing efforts to ensure that Singapore’s anti money laundering regime “keeps pace with the identified risks.” The report comes after Singapore busted a \$2.24 billion money laundering ring run by foreigners, with the last of 10 offenders sentenced on June 10. The criminals held money in bank accounts in Singapore and converted some into real estate, cars, handbags and jewelry. Since the money laundering case emerged last year, the government has set up an inter-ministerial panel to review the anti-money laundering regime and sharpened their policing of the inflows of wealth and wealthy individuals. In the new risk assessment report, Singapore said its key money laundering threats stemmed from fraud – particularly cyber-enabled fraud – organized crime, corruption, tax crimes and trade-based money laundering. The report also identified new risk sectors not included in the last report. These are digital payment token services providers and precious stones and precious metal dealers. “Singapore’s position as an international financial center and as a trading and transit hub with a highly externally oriented economy exposes it to the risks of criminals exploiting our economic openness, financial system and business infrastructure to launder or move illicit funds and assets,” the joint statement said. Singapore has benefited from strong inflows of wealth into Asia due to its political stability, low taxes, and policies favorable towards family offices and trusts. The Asian financial hub had assets under management of S\$4.9 trillion (\$3.6 trillion) in 2022. As at end 2022, 76% of Singapore’s assets under management originated from outside Singapore. The number of family offices or one-stop firms that manage the portfolios of the wealthy in the city-state rose to around 1,400 last year from 1,100 a year ago, according to government statistics. (\$1 = 1.3513 Singapore dollars) (Reporting by Yantoultra Ngui and Xinghui Kok; editing by Stephen Coates)
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