266 people under probe for scams in which victims lost over $5.55 million
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The police said that 173 men and 93 women are believed to be involved in more than 1,011 scams.
PHOTO: ST FILE
SINGAPORE - A total of 266 people aged between 16 and 78 are under investigation for allegedly acting as scammers or money mules.
The police said on Nov 1 that 173 men and 93 women are believed to be involved in more than 1,011 scams, in which victims reportedly lost over $5.55 million.
These cases involved mainly investment, job, friend impersonation, internet love, e-commerce and fake buyer scams.
The suspects were hauled up during a two-week operation held between Oct 18 and 30 by officers from the Commercial Affairs Department and seven police land divisions.
They are being investigated for allegedly cheating, money laundering or providing payment services without a licence, the police said.
Those found guilty of cheating face a jail term of up to 10 years and a fine.
Those convicted of money laundering can be jailed for up to 10 years or fined up to $500,000, or both.
The offence of carrying out unlicensed payment services carries an imprisonment term of up to three years or a fine of up to $125,000, 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,” said the police.
The police’s mid-year scam and cybercrime statistics
Victims in 2024 lost more than $385.6 million in the first six months, a 24.6 per cent increase compared with the $309.4 million lost in the first half of 2023.
While the 3,330 cases of investment scams made up only 12.5 per cent of the total number of scam cases in the first half of 2024, victims lost $133.4 million, the highest amount lost of all scams.
To avoid being an accomplice to crimes, members of the public should always reject requests by others to use their bank accounts or mobile phone lines, said the police, adding that they will be held accountable if these are linked to crimes.
For more information on scams, members of the public can visit www.scamshield.gov.sg
Those with information about such scams can contact the police on 1800-255-0000 or submit the information online on www.police.gov.sg/iwitness
All information will be kept strictly confidential, the police said.
