309 scammers, aged 15 to 78, investigated by police in 2-week operation

A total of 309 scammers and money mules have been busted by the police in a two-week operation between Jun. 21 and Jul. 4, 2024.

Victims reportedly lost over $10 million.

A total of 215 men and 94 women, aged between 15 and 78, are assisting in investigations for their suspected involvement in scams as scammers or money mules.

They are believed to be involved in more than 1,300 cases of scams, comprising mainly internet love scams, e-commerce scams, friend impersonation scams, investment scams and job scams.

They are under investigation for cheating, money laundering or providing payment services without a licence.

Penalties

Those found guilty of money laundering under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 can be imprisoned for up to 10 years, receive a fine of up to S$500,000, or both.

The offence of carrying on a business to provide any type of payment service in Singapore without a licence under Section 5 of the Payment Services Act 2019 carries a fine of up to S$125,000, an imprisonment term of up to three years, or both.

The police reminds members of the public to always reject requests by others to use their own bank accounts or mobile lines to avoid being an accomplice to crimes.

Top photo via Mothership