367 suspects under investigation for scams where victims lost more than $10m in total

SINGAPORE – Police are investigating 367 suspected scammers and money mules involved in more than 1,000 scam cases that cost victims more than $10 million.

The 248 men and 119 women, between the ages of 16 and 78 years, are now being probed after an operation by officers from the Commercial Affairs Department and seven police land divisions between Jan 19 and Feb 1, said the police on Feb 2.

The suspects are believed to have pulled off ruses such as investment, e-commerce and Internet love scams.

They are being investigated for a range of offences, including cheating, money laundering and providing payment services without a licence. 

Those found guilty of cheating may be jailed for up to 10 years and fined.

Those found guilty of money laundering may be jailed for up to 10 years, fined a maximum of $500,000 or both. 

Those found guilty of carrying on a business to provide a payment service without a licence may be fined up to $125,000, jailed for up to three years, or both. 

The Online Criminal Harms Act (Ocha), which took effect on Feb 1, has a special provision for scams. 

The law empowers the Government to remove criminal content online and issue directions to restrict the exposure of Singapore users to such content.

In most cases, directions can be issued only if there is reasonable suspicion that an online activity is linked to a specified offence, like those relating to terrorism and internal security.

But a lower threshold applies for scams and malicious cyber activities, such that directions can be issued even if there is only a suspicion that certain online activities are in preparation of such offences.

Between January 2020 and June 2023, the scourge of scams cost victims in Singapore about $2 billion in total.