Sentosa bungalow buys by money laundering suspects raise questions

THE foreign buyers of the seven Sentosa Cove bungalows linked to this month’s money laundering bust had been granted approval by the government for their landed property purchases.

Questions have emerged over whether proper checks were conducted before approval was granted. The individuals arrested who owned the Sentosa houses had held citizenships of countries considered risky for illicit fund flows. 

Under the Residential Property Act, foreigners are required to apply to the Singapore Land Authority (SLA) for approval to buy any landed residential property, including those in Sentosa Cove.