Cyprus could revoke citizenship of those arrested in Singapore money laundering case

The Ministry of the Interior released a statement on Thursday saying that it is following the case involving the arrest of two Cypriot passport holders in Singapore on suspicion of money laundering, informs in-cyprus.

The Ministry stressed its commitment to adhering to the law and asserted its readiness to take appropriate measures, including the possibility of revoking the suspects’ citizenships if needed.

The statement was prompted by media coverage detailing the arrest of individuals linked to a large-scale international money laundering network in Singapore. The Ministry acknowledged that two individuals possessing Cypriot citizenship were among those detained as suspects.

The Ministry clarified that in accordance with the law, citizenship can be revoked when an individual holding it is convicted and sentenced for a serious criminal offence.

Furthermore, the Ministry noted that, up to now, there has been no formal request from Singaporean authorities seeking assistance in relation to the ongoing investigation.

The Ministry concluded its statement by affirming its commitment to promptly and fully cooperate if any such request for information or aid is made by the Singaporean authorities.

Ten people aged between 31 and 44, of Cypriot, Turkish, Chinese, Cambodian and Ni-Vanuatu nationalities were charged on Wednesday night after police conducted simultaneous raids across Singapore as part of a probe into money laundering and forgery offences.

More than 400 police officers from various divisions were involved in what was one of the largest anti-money laundering operations conducted by Singapore authorities, Channel News Asia reported.

About $736 million in properties, cars, bank accounts, cash and goods were seized, frozen or issued with the prohibition of disposal orders in connection with the investigation.