SINGAPORE – A total of 189 men and 99 women aged 16 to 76 are under police investigation for their suspected involvement as con artists or money mules in more than 1,000 scams, with victims reportedly losing more than US$6.54 million.
Police said in a statement on Nov 16 that officers from the Singapore Police Force’s Commercial Affairs Division and the Singapore Police Force’s seven land divisions carried out a two-week operation between Oct 31 and Nov 14.
The suspects are believed to be involved in more than 1,208 cases, mainly including job fraud, e-commerce fraud, friend scams, investment fraud, internet romance fraud and fake buyer scams.
They are under investigation for alleged fraud, money laundering or offering unlicensed payment services.
If convicted of cheating, individuals may face a prison sentence of up to ten years and a fine. Those convicted of money laundering can face a prison sentence of up to ten years, a fine of up to $500,000, or both. Individuals convicted of operating a business to provide payment services without a license may be fined up to $125,000, imprisoned for up to three years, or both.
Singapore scam victims lost $385.6 million in the first half of 2024with cases rising 16.3 percent to a new high of 26,587, figures released in August showed.
Most cases involved victims who were manipulated into transferring money to criminals.
E-commerce fraud was the most common scam, followed by job scams, phishing, investment fraud and fake friend calling scams.
Police said on November 16 that they are “taking a serious stance against anyone who may be involved in the scam, and perpetrators will be dealt with in accordance with the law”.
It also advised people to always reject requests from others to use their bank accounts or mobile lines as they will be held accountable if these are related to crimes.