Between September 25 and October 7, 2021, officers from the Commercial Affairs Department and seven Police Land Divisions undertook a two-week operation. A total of 163 men and 84 women, ranging in age from 12 to 78, are presently cooperating with investigations into their possible involvement in schemes as scammers or money mules.
The suspects are suspected of being involved in over 640 scam cases, including Internet love scams, e-commerce scams, China official impersonation scams, government official impersonation scams, business email impersonation scams, investment scams, job scams, and loan scams, in which victims have lost over $3.9 million.
Cheating, money laundering, and offering payment services without a license are among the charges being probed against the accused.
Cheating is a criminal offense punishable by up to ten years in jail and a fine under Section 420 of the Penal Code. Money laundering is punishable by a maximum sentence of ten years in jail, a fine of $500,000, or both under the Corruption, Drug Trafficking, and Other Serious Crimes (Confiscation of Benefits) Act. Carrying on a business of offering any form of payment service in Singapore without a license is punishable by a fine of up to $125,000 and a term of imprisonment of up to one year under Section 5 of the Payment Services Act 2019.