Stephanie Chew quoted in The Business Times: “Seized money-laundering assets exceeding S$2b yet to be surrendered to the state”

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News

14 June 2024

Stephanie Chew quoted in The Business Times: “Seized money-laundering assets exceeding S$2b yet to be surrendered to the state”

Features Stephanie Chew

Stephanie Chew was quoted in The Business Times by Megan Cheah.

The article, on the billion-dollar anti-money laundering bust case, includes Stephanie’s comments on how seized assets are generally dealt with according to the Criminal Procedure Code.

Stephanie shared that the assets may subsequently be ordered to be forfeited to the consolidated fund under relevant sections of the Criminal Procedure Code. She shared that the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act has the power to deal with such assets, and how the articles seized can now be considered as being forfeited to the state and would likely be added to the consolidation fund.

The article was also syndicated on Singapore Law Watch on 14 June.