189 people under investigation for suspected involvement in S$6.65M loss from 1,000 scam cases

SINGAPORE: Investigations were carried out on 189 people suspected of being involved in 1,000 scam cases, where victims lost over S$6.65 million. The individuals under investigation, aged between 16 and 66, include 138 men and 51 women. They were believed to be either directly involved in the scams or acting as money mules, helping to move the stolen money.

According to The New Paper, the scams involved fake investment schemes, e-commerce fraud, job scams, and impersonations of friends and government officials.

The investigation began after an operation was carried out from Dec 13 to Dec 26 by the Commercial Affairs Department (CAD) and seven police land divisions. Those being investigated face serious charges, including cheating, money laundering, and providing payment services without a licence.

Convictions for cheating can lead to up to 10 years in prison and fines. Money laundering offenders could face 10 years behind bars, fines of up to S$500,000, or both. If someone is convicted of offering payment services without a licence, they could be fined up to S$125,000, jailed up to three years, or both jailed and fined.

Police stated that they will take strong action against anyone involved in scams, and offenders will be punished according to the law. The public is urged to refuse requests from others to use their bank accounts or mobile lines, as they could be held responsible if these are linked to crimes. /TISG

Read also: Over S$100,000 stolen in credit card scams targeting Singapore retailers selling high-value items and luxury goods

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