Crypto Crime Crackdown: Singapore Police Probe Linked to $200,000 in Illicit Funds

Singapore police have launched a crackdown on crypto-related money laundering, uncovering over SGD 200,000 (approx. USD 150,000) in illicit funds during an investigation involving 49 individuals. The operation targeted the use of cryptocurrency accounts for money laundering activities by suspects who were instructed to open or transfer accounts in exchange for compensation, ultimately used to launder proceeds from scams.