49 Under Probe for Suspected Money Laundering Involving Crypto Accounts; over $200k Seized

49 under probe for suspected money laundering involving crypto accounts; over $200k seized

The suspects allegedly opened and gave up cryptoaccounts or Singpass credentials for cash. Read more at straitstimes.com.

Singapore Authorities Bust Crypto Account Rental Scheme in Anti-Money Laundering Sweep

Singapore police have arrested 49 individuals in connection with a sophisticated cryptocurrency money laundering network that exploited willing participants to rent out their digital wallets and government digital identity credentials for cash, according to a report in local broadsheet Straits Times today.The operation, conducted between May 13-30 by Singapore's Anti-Scam Command in partnership with digital payments firm StraitsX, resulted in th…

49 under probe for suspected money laundering involving crypto accounts, over $200k seized

SINGAPORE – The police are investigating The suspects – They were nabbed during an islandwide operation carried out between Early investigations showed that the suspects allegedly opened and gave up their cryptocurrency accounts or Making use of messaging platforms such as Part of the instructions they received included providing screenshots, personal details, as well as access to their cryptocurrency or Singpass accounts, which were then used t…