Between September 10 and 24, 2021, officers from the Commercial Affairs Department and seven Police Land Divisions undertook a two-week operation. A total of 236 males and 100 women, ranging in age from 12 to 74, are presently cooperating with investigations for their possible involvement in schemes as scammers or money mules.
The suspects are suspected of being involved in over 1439 scam cases, including Internet love scams, e-commerce scams, China officials impersonation scams, government officials impersonation scams, business email impersonation scams, investment scams, job scams, and loan scams, in which victims have lost over $13 million.
Cheating, money laundering, and offering payment services without a license are among the charges being probed against them.
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.