SINGAPORE, Sept 15 — Singapore has passed a new Bill that gives authorities powers to investigate illicit gains from crimes such as illegal mining, logging as well as waste trafficking.
The Straits Times reported that the new laws will address previous limitations in investigating such environmental crimes due to the narrow scope in current legislation.
Though those crimes were not committed on Singapore soil, funds from those activities were likely flowing through Singapore.
Minister for Digital Development and Information Josephine Teo said when asked about what drove the creation of the new laws: “As a responsible member of the international community, we need to do our part to help tackle this global problem. The legislative amendments will allow us to do so.”
Wildlife trade offences for instance are now serious offences under the Organised Crime Act as of August 30, with enhanced penalties of up to 20 years jail and confiscation of ill-gotten gains.
Singapore had earlier published its first-ever environmental crimes money laundering national risk assessment in May to align with global financial crimes watchdog Financial Action Task Force (FATF)’s standards.
In 2022, there were over 49,846 suspicious transaction reports in Singapore, a 9 per cent increase from 2021.
Most of the reports were made in the banking sector, with one bank finding questionable supporting trade documents linked to a customer with ties to illegal logging.
