Officers from the Commercial Affairs Department and the seven Police Land Divisions conducted a two-week operation between 12 April and 25 April 2024. A total of 214 men and 95 women, aged between 16 and 75, are assisting in investigations for their suspected involvement in scams as scammers or money mules, an official release from the Singapore Police Force said.
The suspects are believed to be involved in more than 1,600 cases of scams, comprising mainly investment scams, internet love scams, job scams, friend impersonation scams, and e-commerce scams, where victims reportedly lost over SGD 9 million.
The persons are being investigated for the alleged offences of cheating, money laundering or providing payment services without a licence. The offence of cheating under Section 420 of the Penal Code 1871 carries an imprisonment 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 1992 carries an imprisonment term of up to 10 years, a fine of up to SGD 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 SGD 125,000, an imprisonment term of up to three years, or both.