In a 2022 Interpol video, Mr Kittichai Runglaiboonwong from Thailand's Department of National Parks walks around piles of illegally logged timber.
At US$290 (S$380) per kg, a 59kg bag of agarwood could easily fetch about US$14,500, he says.
The video did not mention whether the proceeds from this crime could have been laundered.
But if dirty money from such crimes were to pass through Singapore, the Republic will soon have powers to investigate it.
In August, Parliament passed a new Bill that allows the authorities to investigate illicit gains from a wider range of foreign serious environmental offences such as illegal logging, mining and waste trafficking.
This represents a significant expansion of powers.
Previously, the authorities could track tainted funds from foreign environmental crimes only if they were also serious offences under Singapore's laws, such as wildlife trafficking.
Minister for Digital Development and Information Josephine Teo told Parliament in August that the authorities face limitations in investigating illegal logging, mining and waste trafficking as they are not applicable in Singapore's context.
But as these crimes are some of the largest contributors to transnational organised criminal activities in the East Asia and Pacific region, there is a high likelihood of funds from such crimes flowing into Singapore, said Mrs Teo, who is also Second Minister for Home Affairs.
HUGE PROFITS A 2021 report by the Financial Action Task Force (FATF), a global financial crime watchdog, said environmental offences generate up to $365 billion in criminal gains annually. Of this figure, 66 per cent comes from forestry crime, illegal mining and waste trafficking.
Esta historia es de la edición September 15, 2024 de The Straits Times.
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