339 suspects being investigated over scam cases where victims lost more than $10m

SINGAPORE – The police are investigating 339 people for their suspected involvement in scams in which victims lost more than $10 million.

A total of 231 men and 108 women, aged between 16 and 76, were rounded up in a police operation between March 1 and 14, the police said in a release on Friday (March 15).

The suspected scammers or money mules are believed to be involved in more than 1,100 cases of scams, including investment, e-commerce, job, Internet love and friend impersonation scams.

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.

The offence of money laundering carries a jail term of up to 10 years, a fine of up to $500,000, or both.

The offence of carrying on a business to provide any type of payment service in Singapore without a licence carries a jail term of up to three years, a fine of up to $125,000, or both.

The police urged the public to always reject requests by others to use their bank accounts or mobile lines as they will be held accountable if these are linked to crimes.

According to annual figures released by the police in February, the number of scam cases in Singapore hit a record high in 2023.

There were 46,563 cases reported in 2023, the highest number of scam cases since police started tracking them in 2016. There were 31,728 cases reported in 2022.

Scam victims in Singapore lost $651.8 million in 2023, a slight dip from the $660.7 million lost in 2022.

For more information on scams, visit www.scamalert.sg or call the Anti-Scam Helpline on 1800-722-6688.

Those with information relating to such crimes can call the police hotline on 1800-255-0000, or visit www.police.gov.sg/iwitness.

This article was first published in The Straits Times. Permission required for reproduction.