Compensation for identifiable victims through forfeited money laundering proceeds

Question:

Mr Cai Yinzhou: To ask the Senior Minister, Coordinating Minister for National Security and Minister for Home Affairs regarding forfeited assets from a money laundering case being auctioned (a) whether any of the laundered monies have been attributed to identifiable victims in Singapore; (b) whether any portion of the proceeds can be used to compensate victims of related predicate offences; and (c) whether the Ministry will consider a victim compensation fund drawn from forfeited criminal proceeds.

Answer:

Mr K Shanmugam, Senior Minister, Coordinating Minister for National Security and Minister for Home Affairs:

1. Thus far, no identifiable victims in Singapore could be attributed to the auctioned forfeited assets arising from the 2023 money laundering case.

2. On the remaining questions, the Member may wish to refer to the Ministry of Home Affairs’ answer to oral Parliamentary Question on 28 February 2025.