260 Individuals Under Investigation in Singapore for Alleged Fraud and Money Laundering
Singaporean authorities are investigating 260 individuals for their alleged involvement in fraud and acting as money mules. The total amount involved exceeds SGD 5.1 million. The Singapore Police Force conducted island-wide operations leading to these investigations.
Details of the Investigation
The Commercial Affairs Department, in collaboration with seven police divisions, carried out a two-week enforcement operation from September 12th to 25th. The individuals under investigation include 165 men and 95 women, aged between 16 and 83, who are assisting with investigations related to fraud or acting as money mules.
The police believe these 260 individuals are linked to over 700 cases of fraud, encompassing various schemes such as e-commerce scams, impersonation of friends, job scams, impersonation of government officials, investment scams, and rental scams. The total amount involved in these cases surpasses SGD 5.1 million.
Potential Charges and Penalties
The suspects could face charges related to fraud, money laundering, or providing payment services without a license. If convicted of fraud, they could face imprisonment for up to 10 years and a fine. A conviction for money laundering carries a potential sentence of up to 10 years in jail, a fine of up to SGD 500,000, or both. Providing unlicensed payment services can result in a prison term of up to three years, a fine of up to SGD 125,000, or both.
Police Advisory and Call to Action
The Singapore Police Force emphasizes its serious stance against fraudulent activities and warns that offenders will face strict legal consequences. The public is urged not to provide their bank accounts or phone numbers to others to avoid becoming entangled in scams and potentially becoming accomplices to fraudsters.
Members of the public can visit www.scamshield.gov.sg or call the anti-scam helpline at 1799 for more information on preventing scams. Information related to scams can be provided to the police via the police hotline at 1800-255-0000 or online at www.police.gov.sg/i-witness. All information will be kept confidential.