By admin 
SINGAPORE – A total of 266 people aged between 16 and 78 are under investigation for allegedly behaving as con artists or money mules.
Police said on Nov. 1 that 173 men and 93 women are believed to have been involved in more than 1,011 scams, with victims reportedly losing more than $5.55 million.
These cases mainly involved investments, jobs, impersonation of friends, internet love, e-commerce and scams by fake buyers.
The suspects were arrested during a two-week operation conducted between October 18 and 30 by officers from the police’s commercial affairs department and seven land divisions.
They are under investigation for alleged fraud, money laundering or offering payment services without a license, police said.
Those found guilty of cheating face a prison sentence of up to ten years and a fine.
Those convicted of money laundering can face a prison sentence of up to ten years or a fine of up to $500,000, or both.
The offense of operating payment services without a license is punishable by a prison sentence of up to three years or a fine of up to $125,000, or both.
“Police are taking a serious stance against anyone who may be involved in fraud and perpetrators will be dealt with in accordance with the law,” it said.
That of the police mid-year scam and cybercrime statistics The publication on August 22 showed that the number of cases in the first half of 2024 increased by 16.3 percent to 26,587, a new record, compared to 22,853 in the same period in 2023.
Victims lost more than $385.6 million in the first six months of 2024, an increase of 24.6 percent compared to the $309.4 million lost in the first half of 2023.
While the 3,330 investment fraud cases represented only 12.5 percent of the total number of scams in the first half of 2024, victims lost $133.4 million, the highest amount lost of any scam.
To avoid being complicit in crimes, citizens should always reject requests from others to use their bank accounts or mobile phone lines, police said, adding that they will be held accountable if these are related to crimes.
For more information about scams, members of the public can contact us www.scamshield.gov.sg or call the ScamShield helpline on 1799.
Those with information about such scams can contact police at 1800-255-0000 or submit the information online at www.police.gov.sg/iwitness
All information will be treated as strictly confidential, police said.