SINGAPORE - More than 300 alleged scammers and money mules are under police investigation for their suspected involvement in over 1,100 scam cases, in which victims reportedly lost more than $9 million.

In a statement on May 10, the police said officers conducted a two-week raid between April 26 and May 9.

A total of 319 people – 218 men and 101 women aged between 16 and 77 – are assisting with investigations. They are believed to be involved in scams such as friend impersonation as well as fake investments, internet love and jobs.

The suspects are being investigated for the alleged offences of cheating, money laundering, or providing payment without a licence.

Those found guilty of cheating can be jailed for up to 10 years and fined, while those found guilty of money laundering can be jailed for up to 10 years, fined up to $500,000, or both.

Operating a business to provide any type of payment service without a licence carries a jail term of up to three years, a fine of up to $125,000, or both.

Scams in Singapore hit a record high of 46,563 reported cases in 2023 – the highest number of cases since the police started tracking them in 2016. The 2023 figure is up 46.8 per cent from the 31,728 cases in 2022, and victims lost a total of $651.8 million in 2023.

Members of the public are advised to reject requests by anyone to use their bank accounts or mobile lines, as they will be held accountable if these are linked to crimes, said the police.

To find out more about scams, the public can visit www.scamalert.sg or call the anti-scam hotline on 1800-722-6688.