254 men and 127 women are being investigated for their suspected involvement in scams, in an operation conducted by the police from 29 March to 14 April.
More than $8.9 million have been lost by the victims in the scams.
The 381 suspects are suspected of being involved in more than 990 scams, including e-commerce scams, love scams, government officials impersonation scams, investment scams, job scams and loan scams.
The authorities are investigating them for allegedly cheating victims, laundering money and/or proving unlicensed payment services.
The police said that they take a serious view on those who are involved in scams and those who are caught will be dealt with under the law.
Persons found guilty of cheating face a jail term of up to 10 years, as well as a fine.
Persons found guilty of money laundering face a jail term of up to 10 years, and/or a fine of up to $500,000.
Persons found guilty of providing payment services without a valid license face a jail term of up to 3 years, and/or a fine of up to $125,000.