Premature to judge banks’ culpability in S$2.8b money-laundering case, says Josephine Teo in response to Leong Mun Wai

SINGAPORE — Funds in bank accounts that are seized in money laundering cases do not belong to the banks involved, and the sum of these funds should not be linked to the banks’ culpability in such cases before investigations are complete, Mrs Josephine Teo said.