More than 1,400 Scam Cases Under Investigation, Total Losses Exceeding S$9.6 Million
The police are investigating 479 individuals for their suspected involvement in over 1,400 scam cases, with total reported losses exceeding S$9.6 million. The suspects, ranging in age from 13 to 77, were apprehended during a two-week operation between September 29 and October 19, 2023. They are currently assisting with investigations into various scam activities, including job scams, investment fraud, malware-enabled schemes, internet love scams, government impersonation frauds, and phishing attacks.
The individuals are also being investigated for charges related to cheating, money laundering, and operating payment services without the required license. Under Singapore’s Penal Code, cheating could lead to a sentence of up to 10 years in prison and a fine. Money laundering offences carry penalties under the Corruption, Drug Trafficking and Other Serious Crimes Act, with imprisonment of up to 10 years and a fine of up to S$500,000. Additionally, providing payment services without a license could result in a fine of S$125,000 or a prison term of up to three years, as per the Payment Services Act.
The police are continuing their efforts to tackle scams and prevent further financial harm to victims
