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Friday, January 27, 2023
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335 SCAMMERS & MONEY MULES INVESTIGATED, VICTIMS LOST OVER $5 MILLION

Officers from the Commercial Affairs Department and the seven Police Land Divisions conducted a two-week operation between 31 December 2022 and 12 January 2023.

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A total of 228 men and 127 women, aged between 16 and 78, are assisting in investigations for their suspected involvement in scams as scammers or money mules.

The suspects are believed to be involved in more than 918 cases of scams, comprising mainly investment scams, job scams, e-commerce scams, internet love scams, and Government Officials impersonation scams, where victims reportedly lost over $5 million.

The suspects are being investigated for the alleged offences of cheating, money laundering or providing payment services without a licence. The offence of cheating under Section 420 of the Penal Code 1871 carries an imprisonment term of up to 10 years and a fine. The offence of money laundering under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 carries an imprisonment term of up to 10 years, a fine of up to $500,000, or both. The offence of carrying on a business to provide any type of payment service in Singapore without a licence under Section 5 of the Payment Services Act 2019 carries a fine of up to $125,000, an imprisonment term of up to three years, 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.

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