Police probe 303 alleged scammers, money mules over cases where victims lost more than $8.4 million

The cases include Internet love scams, e-commerce scams, impersonation scams, investment scams, job scams and loan scams. ST PHOTO: LIM YAOHUI

SINGAPORE - The police are investigating 303 people alleged to be scammers and money mules following an islandwide enforcement operation.

These suspects are believed to be involved in more than 1,020 cases where victims allegedly lost more than $8.4 million, police said on Saturday (Dec 18).

The cases include Internet love, e-commerce, impersonation, investment, job and loan type of scams.

The suspects comprise 211 men and 92 women, aged between 15 and 71.

Officers from the Commercial Affairs Department and seven police land divisions conducted the two-week operation from Dec 3 to 17.

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

The offence of cheating carries a jail term of up to 10 years and a fine.

Those convicted of money laundering can be jailed for up to 10 years, fined up to $500,000, or both.

The offence of running a business of providing any type of payment service in Singapore without a licence carries a fine not exceeding $125,000, jail term not exceeding 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," said the police.

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