A total of 219 men and 92 women, between the ages of 16 and 94, are being investigated by the Singapore police for cheating, money laundering or providing payment services without a licence.
They are assisting the police for their suspected involvement in scams, as either scammers or money mules, according to a press release by the Singapore Police Force (SPF).
Involved in a total of 866 cases
The suspects are believed to be involved in 866 cases of scams, comprising largely of:
- Business email impersonation scams,
- Internet love scams,
- e-commerce scams,
- government official impersonation scams,
- China officials impersonation scams,
- investment scams,
- job scams,
- fake gambling platform scams, and
- loan scams.
Victims of the scams have lost more than S$8.2 million.
The ongoing investigation into the 311 suspects was the result of a two-weeks operation conducted between June 5 and 18, by officers from the Commercial Affairs Department and seven police land divisions.
Under Section 420 of the Penal Code, the offence of cheating carries a jail term of up to 10 years and a fine.
The offence of money laundering under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act carries an imprisonment term of up to 10 years, a fine of up to S$500,000, or both.
As for the offence of providing payment services without a licence, those convicted face a fine of up to S$125,000, a jail term of up three years, or both.
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