Odaily Planet Daily reports that the Singapore Police Force announced that they arrested three Singaporeans suspected of money laundering related to the Prince Group from November last year to January this year. They have also issued an arrest warrant for another Singaporean woman, Chen Xiuling. To date, the total value of Singaporean assets seized or restricted in connection with this case has exceeded 500 million SGD (approximately 2.7 billion RMB). Analysts point out that Singapore has a highly developed digital financial environment and a large high-net-worth population, making it also a hotbed for scams. Locally, scams have evolved into crimes supported by artificial intelligence and blockchain, with total losses surpassing 1.1 billion SGD in 2024. (Jiemian News)
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