Wednesday, February 28, 2007

Singapore wants to retain laundered money

Singapore doesn't want to sign an extradition treaty with Indonesia because it wants to retain laundered money, according to the Indonesian Vice President. Jakarta has used various means to push Singapore to sign the treaty since the 80s and some say that the recent sand export ban is related to the treaty issue. From Radio Australia:
Indonesia's vice president claims Singapore is refusing to sign an extradition treaty because it wants to retain billions of dollars in allegedly corrupt money.

Jusuf Kalla says the cash was allegedly taken out of Indonesia by fleeing tycoons during the 1997-1998 Asian financial crisis.

He says if the treaty is signed, the corrupt Indonesians will not want to live in Singapore, but their money strengthens Singapore's economy.

The absence of a bilateral extradition treaty is causing friction between the two countries.

Jakarta claims many suspects wanted in Indonesia have fled to Singapore, which is also used by Indonesian criminals to launder money.

Previously: Sand mining destroying environment says Indonesia

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