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Singaporean authorities have arrested a woman linked to Cambodia-based Prince Holding Group as part of an expanding investigation into the transnational scam network. The arrest of Chen Xiuling, also known as Karen Chen, at Changi Airport on 5 November 2026 brings renewed attention to the group’s corporate structures and the use of Singapore-based entities. The Singapore Police Force also reported that the estimated value of assets seized or made subject to prohibition of dis

Singapore’s Monetary Authority of Singapore (MAS) has revoked the major payment institution licence of Sir Money Changer Pte. Ltd. (SMC) after finding that the company allowed a third party to operate a cross-border money transfer business under its name and provided the regulator with false or misleading information. The revocation took effect on September 15, 2026, although MAS announced the enforcement action publicly on October 14. From the effective date, SMC was no long

Singapore Police are investigating 254 people following a two-week islandwide enforcement operation targeting individuals suspected of involvement in scams either as scammers or money mules. The operation was conducted between 27 August and 9 September 2026 by officers from the Singapore Police Force's Cyber Command and all seven Police Land Divisions. The 254 people comprise 151 men and 103 women aged between 15 and 79. They are believed to be connected to more than 652 repo

Singapore recorded a significant increase in betting-related tax revenue during the financial year ended March 31, 2026, with collections rising 11.9 percent year on year to SG$3.6 billion (US$2.84 billion). The figure compares with SG$3.2 billion (US$2.53 billion) collected in the previous financial year and represents faster growth than Singapore’s overall tax revenue, according to the annual report of the Inland Revenue Authority of Singapore (IRAS), released on September

Singapore is preparing to auction hundreds of pieces of luxury jewellery and other high-value goods forfeited in one of the country's largest money-laundering investigations, turning assets linked to the case into proceeds for the state through a carefully controlled disposal process. The first auctions are scheduled to begin on 7 September 2026 and will include 286 pieces of fine jewellery alongside hundreds of handbags and other luxury accessories. Together, the first two a

Singapore authorities are investigating 30 people for their suspected involvement in illegal online gambling activities and related financial offences following a targeted enforcement operation conducted over nine days in May. In a statement released on Thursday, the Singapore Police Force said that a nationwide operation carried out between 21 and 29 May resulted in the identification or arrest of 21 men and nine women ranging in age from 17 to 79. The operation was led by

The Monetary Authority of Singapore (MAS) has directed private banking institutions to significantly reduce the time required to onboard new clients after years of delays caused by increasingly cautious compliance practices. The policy adjustment was formally announced through remarks delivered by Mr. Chia Der Jiun, Managing Director of MAS, during the UBS Asian Investment Conference, Singapore Wealth Edition, held on 25 May 2026. Under the new expectations, financial institu

The Financial Action Task Force (FATF) has identified scams, cyber-enabled fraud and illegal gambling as some of the most serious money laundering threats confronting Singapore, while simultaneously commending the country’s strong gambling oversight and broader anti-money laundering regime in its latest mutual evaluation report published on May 6. The assessment, jointly released by Financial Action Task Force and the Asia/Pacific Group on Money Laundering, concluded that S

The latest assessment issued by the Financial Action Task Force presents Singapore as a jurisdiction with exceptionally high levels of technical compliance in anti-money laundering and counter-terrorist financing controls, while simultaneously exposing enduring vulnerabilities linked to the oversight of foreign wealth and complex international financial flows. The report paints a picture of a sophisticated global financial center that has successfully developed an advanced re

Genting Singapore, the operator of Resorts World Sentosa, has stated that it is confident it will secure a renewed three-year gaming licence in 2027, while also closely monitoring how escalating geopolitical tensions, including the Iran conflict, could influence global tourism flows. The company has described itself as “well-positioned” to obtain the renewed licence, reaffirming its outlook ahead of the upcoming regulatory review cycle. The renewal process follows an unusual

On March 17, 2026, the Monetary Authority of Singapore took decisive enforcement action against two former relationship managers implicated in a sprawling three-billion-dollar money laundering scandal, issuing strict prohibition orders that underscore the city-state’s zero-tolerance stance on financial misconduct. Wang Qiming was handed a sweeping sixteen-year ban, while Liu Kai received a seven-year prohibition, both following their criminal convictions in late 2025. These s