More than 300 people under investigation for scams, money laundering, unlicensed moneylending activities

More than 300 people under investigation for scams, money laundering, unlicensed moneylending activities

Police 01
File photo of officers from the Singapore Police Force. (Photo: Jeremy Long)

SINGAPORE: More than 300 people are under investigation for their suspected involvement in scams, money laundering and unlicensed moneylending activities. 

This comes after an enforcement operation between Aug 3 and Aug 14, said the police on Saturday (Aug 15) in a media release.  

The suspects - 220 men and 93 women - are aged between 16 and 76.

During the operation, five men and four women were arrested for their suspected involvement in cases of cheating and criminal breach of trust, police said. 

Another 49 men and 29 women are also under investigation for their alleged involvement in e-commerce scams and money-laundering activities involving more than S$1.24 million.

The remaining 166 men and 60 women are being investigated for their suspected involvement in loan scams and loanshark activities involving more than S$296,000. Among this group, 34 men and eight women were arrested for offences under the Moneylenders Act, police added.

"The scale of the operation reminds us of the growing threat of online scams, and behoves us to exercise caution when using the Internet," said Commander of Bedok Police Division, Assistant Commissioner of Police Julius Lim.

"To avoid becoming an accomplice to scams, the public is advised to reject requests by others to use your bank account or mobile lines as they may be later used for illegal transactions," he added. 

A cheating offence carries a jail term of up to 10 years and a fine, while money laundering is punishable by imprisonment of up to 10 years, a fine of up to S$500,000, or both.

Criminal breach of trust carries a jail term of up to seven years, a fine, or both.

Those convicted of unlicensed moneylending for the first time face a fine of between S$30,000 and S$300,000, a mandatory jail term of up to four years and mandatory caning of up to six strokes.

Source: CNA/ad

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