Police investigate 373 people over scams, money laundering

SINGAPORE: The Singapore Police Force said on Thursday night (Dec 7) that 373 individuals are assisting in investigations for suspected involvement in illegal money schemes. The investigations into 236 men and 137 women, aged between 14 and 80, result from a two-week operation between Nov 24 and Dec 7 carried out by officers from the Commercial Affairs Department and the seven Police Land Divisions.

The individuals under investigation are believed to be involved as scammers or money mules, the police said in its Dec 7 press statement. They are allegedly involved in over 1,200 scam cases, mainly investment scams, e-commerce scams, loan scams, job scams, government official impersonation scams, internet love scams, and social media impersonation scams.

In these scams, victims were reported to have lost more than S$10 million. The 373 suspects are under investigation for alleged offences of cheating, money laundering or providing payment services without a licence.

The police added that for cheating, a person found guilty may go to jail for up to 10 years and be slapped with a fine. As for money laundering, they could go to jail for 10 years, be made to pay a fine of as much as S$500,000, or both. And for carrying on a business to provide any payment service in Singapore without a licence, an individual who is found guilty could go to jail for three years, pay a fine of as much as S$125,000, or both.

“The Police take a serious stance against any person who may be involved in scams, and perpetrators will be dealt with in accordance with the law. To avoid being an accomplice to crimes, members of the public should always reject requests by others to use your bank account or mobile lines as you will be held accountable if these are linked to crimes,” SPF added.

The police also noted that anyone with scam information may call the Police Hotline at 1800-255-0000 or submit information online at www.police.gov.sg/iwitness. They assured the public that all information will be kept strictly confidential.

Last month, the police said that 316 people were being investigated for allegedly taking part in over 1,100 scams as scammers or money mules. The suspects, 229 men and 87 women, were between 15 and 73.

Scams have been on the rise in Singapore over the past year, and some cases of hundreds of thousands of dollars lost to fraudulent activities have been among the year’s top stories. /TISG

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