💸 Money Laundering Risk in Singapore: As an international financial centre, criminals will take advantage of Singapore’s economic openness to launder illicit funds in its ecosystem.
🎯 Objectives of Asset Recovery in Singapore:
1. 🚫 Depriving criminals of their illegal gains
2. 🛡️ Reduce criminal harms caused to society
3. ⚖️ Provide recourse to victims of crime
📊 Singapore National Asset Recovery Strategy:
1. 🔍 Detection: Detect suspicious and criminal activity
2. 💰 Deprivation: Depriving criminals of their illegal gains
3. 🚫 Deter: Prevent criminals from using Singapore to hide, transfer, or enjoy their illicit assets
4. 💼 Delivery: Deliver maximum recovery of assets for forfeiture and compensation
