David Roach, a Canadian citizen, is wanted in Singapore for allegedly stealing Sg$30,000 ($22,700) from a Standard Chartered bank branch in 2016 after strolling in and presenting a threatening note.
He fled to Bangkok, where he was jailed on charges related to bringing the stolen cash into Thailand but authorities refused to send him to Singapore as the countries do not have an extradition treaty.
After his release, he was detained in January at Londons Heathrow Airport while in transit en route to Canada and Singapore has requested that he be deported to the city-state. Singapore and Britain have an extradition treaty.
But Singapores Ministry of Home Affairs said Britain had sought assurances that if found guilty, Roach would not face corporal punishment. Britain abolished caning as a punishment for criminals in 1948.
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"The Singapore government has agreed to the UK authorities request. UK extradition laws prohibit UK from extraditing Roach to Singapore in the absence of such an assurance," the ministry said in a statement.
Roach is wanted in Singapore on one count of robbery and one count of money laundering.
Bank robberies are extremely rare in Singapore, whose zero-tolerance approach to crime has made it one of Asias safest cities.