Singapore Police Investigates 373 Individuals in More than 1,200 Scam Cases with Victims Losing Over $7.4 Million, Offences Include Cheating, Money Laundering, Providing Payment Services without Licence
9th December 2023 | Hong Kong
The Singapore Police are investigating 373 individuals involved in more than 1,200 scam cases with victims losing over $7.4 million (S$10 million). The alleged offences include cheating, money laundering, providing payment services without licence. Singapore Police Force statement: “Officers from the Commercial Affairs Department and the seven Police Land Divisions conducted a two-week operation between 24 November 2023 and 7 December 2023. A total of 236 men and 137 women, aged between 14 and 80, are assisting in investigations for their suspected involvement in scams as scammers or money mules. The suspects are believed to be involved in more than 1,200 cases of scams, comprising mainly investment scams, e-commerce scams, loan scams, job scams, Government official impersonation scams, internet love scams and social media impersonation scams, where victims reportedly lost over 10 million. The suspects 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 $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 $125,000, an imprisonment term of up to three years, or both.” More info below:
“ Singapore Police Investigates 373 Individuals in More than 1,200 Scam Cases with Victims Losing Over $7.4 Million, Offences Include Cheating, Money Laundering, Providing Payment Services without Licence “
Singapore Police Investigates 373 Individuals in More than 1,200 Scam Cases with Victims Losing Over $7.4 Million, Offences Include Cheating, Money Laundering, Providing Payment Services without Licence
7th December 2023 – Officers from the Commercial Affairs Department and the seven Police Land Divisions conducted a two-week operation between 24 November 2023 and 7 December 2023. A total of 236 men and 137 women, aged between 14 and 80, are assisting in investigations for their suspected involvement in scams as scammers or money mules. The suspects are believed to be involved in more than 1,200 cases of scams, comprising mainly investment scams, e-commerce scams, loan scams, job scams, Government official impersonation scams, internet love scams and social media impersonation scams, where victims reportedly lost over 10 million.
- The suspects 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 $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 $125,000, an imprisonment term of up to three years, or both.
- The Police take a serious stance against any person who may be involved in scams, and perpetrators will be dealt with in accordance with the law. To avoid being an accomplice to crimes, members of the public should always reject requests by others to use your bank account or mobile lines as you will be held accountable if these are linked to crimes.
For more information on scams, members of the public can visit www.scamalert.sg or call the Anti-Scam Helpline at 1800-722-6688. Anyone with information on such scams may call the Police Hotline at 1800-255-0000 or submit information online at www.police.gov.sg/iwitness. All information will be kept strictly confidential.
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