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Singapore
Saturday, December 3, 2022
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336 PEOPLE INVESTIGATED FOR SCAMS TOTALING $13M, CHINA OFFICIAL SCAMS

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.

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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.

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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.

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