Singapore Has a Dirty Money Problem

Singapore has long been a haven for the super wealthy, with low taxes, low crime and political stability. But now something may be threatening to upend that carefully crafted image: a sprawling $2.2 billion money laundering scandal.

On Aug. 15, 2023, hundreds of police officers executed pre-dawn raids across the city-state, seizing assets ranging from gold bars to jewelry, high performance cars and luxury properties. The crackdown sent shockwaves across the orderly nation and has been accompanied by an internal review of how existing, business-friendly policies may be ripe for exploitation. In the mini-documentary Singapore’s Dirty Money Problem, Bloomberg Originals explores the city-state’s new reality, and the role that China and the world’s biggest banks play in it.