S’pore’s handling of money laundering case globally significant: UAE head of anti-money laundering

SINGAPORE – The United Arab Emirates’ head of anti-money laundering has praised Singapore’s handling of the $2.8 billion money laundering probe here, describing the operation as a case of global significance.

Mr Hamid Al Zaabi, director-general of the UAE’s Executive Office of Anti-Money Laundering and Counter Terrorism Financing, said he hopes the bust will spur other jurisdictions into similar efforts to tackle the problem.

“Singapore’s money laundering case is globally significant and is worthy of applause,” he said….