Family office rules mulled as launderer ties probed

THE city-state is investigating the role some single family offices played in one of the largest money laundering cases and weighing further rules on the sector.

Authorities found that one or more of the accused in the case involving more than S$2.8bil (RM9.6bil) of assets may have been linked to single family offices that were awarded tax incentives, Minister of State Alvin Tan said in parliament on Tuesday.