Police has arrested a 25 year old man for being connected with credit for sex scams in a press release on 12/4/2017. He is believed to receive and transfer money for a foreign scam syndicate deliberately.
The victims are estimated to be cheated more than S$389,000 with 164 reported being lodged in the first 3 months on the credit-for-sex scams.
Male Victims generally get to know female suspects on social media platforms such as Wechat and in exchanged for a promised sexual service the victims will be requested to purchase gift cards or online shopping credits.
After getting the cards and credits at AXS machines or convenience stores the victim will be request to send images of the receipts together with PIN numbers for scammers to claim them at designated email accounts.
Police also state there any type of scam appearing in April victims were told to transfer cash to a local bank account instead of buying gift cards or online credits.
Investigations against the suspect are ongoing. Anyone found guilty of money laundering offences may be sentenced to an imprisonment term of up to 10 years, or a fine of up to S$500,000, or both.