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HSBC, Morgan Stanley among creditors as money-laundering probe expands to associates

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Claudia Chong &

Ng Wei Kai

Published Tue, Sep 12, 2023 · 06:06 PM
    • In one of the biggest anti-money laundering operations in Singapore, the Singapore Police Force (SPF) rounded up a group of foreigners who had amassed about S$1.8 billion worth of assets in the city-state.
    • In one of the biggest anti-money laundering operations in Singapore, the Singapore Police Force (SPF) rounded up a group of foreigners who had amassed about S$1.8 billion worth of assets in the city-state. PHOTO: SPF

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    HSBC and Morgan Stanley are among the potential creditors of companies whose shareholders and directors have been linked to the recent money-laundering bust.

    More connections are surfacing as the authorities expand investigations into the associates of the 10 charged in an anti-money-laundering crackdown that has grown in value to S$1.8 billion.

    Business filings of Singapore-incorporated companies linked to 24 persons, identified by the authorities as associates of the charged, show at least six banks as creditors to eight entities.

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    Money launderingHSBCMorgan Stanleycredit suisseDBSOCBCBank of SingaporeUOBBanks

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