S'pore is 1 of the world's largest offshore wealth managers which handles trillions in foreign assets. A money launderer, trying to hide ill-gotten gains funds, will launder dirty money through a massive, highly active financial centre where billions of dollars in cross-border transactions occur everyday. The sheer volume makes layering techniques harder to detect quickly. Of course, our govt's push to attract wealthy foreigners to invest in S'pore makes everyone suspect that they may close both eyes to suspicious transactions too.
