HOW REFERRALS TO THE LAW SOCIETY ARE HANDLED
A lawyer who breaches his or her anti-money laundering obligations is liable, among other things, to face disciplinary proceedings.
“Lawyers whom the director of legal services has referred to the Law Society will be subject to the disciplinary proceedings process and framework in the Legal Profession Act,” said MinLaw.
Under this framework, each lawyer’s case will undergo further fact-finding by the relevant committee or tribunal to assess if there have been breaches, and if so, the lawyer’s individual culpability and any appropriate disciplinary action and penalties against him or her.
This disciplinary process is separate from the director of legal services’ inquiries and enforcement actions against the law practices.
“We urge the public to refrain from speculating or sharing unverified information while the process is ongoing,” said MinLaw.
The billion-dollar money-laundering case involved millions of dollars earned over the years from an illicit gambling ring with Southeast Asian bases, and that was aimed at punters in China.
Investigations into the transnational case date back to 2021 and culminated in islandwide police raids in August 2023.
Singapore police seized luxury cars, watches, jewellery, designer goods, cryptocurrency and cash.
More than 150 properties were also seized, including homes in Singapore’s most upmarket neighbourhoods.
The fees that Anthony Law, Fortis Law, Legal Solutions, Malkin & Maxwell, William Poh & Louis Lim and Templars Law collected in total from acting for their clients for these property transactions ranged from S$15,000 to around S$170,000, said MinLaw.
“In imposing the financial penalties, alongside other regulatory measures that include following up with these law practices on their remedial measures to strengthen compliance with anti-money laundering obligations, the DLS aims to ensure that law practices in Singapore observe their anti-money laundering obligations and keep Singapore a clean and money-laundering-free business- and financial-hub,” it added.
The ministry also said probes into the remaining 11 law practices are ongoing and more information will be provided after the remaining inquiries and enforcement actions are completed.
