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.
Click Here For The Original Source.
Recently, SEC Chair Gary Gensler issued fresh warnings about cryptocurrencies amid Bitcoin's surge to a…
Pay Dirt is Slate’s money advice column. Have a question? Send it to Athena here. (It’s anonymous!) Dear…
By Virma Simonette & Kelly Ngin Manila and Singapore14 March 2024Image source, Presidential Anti-Organized Crime…
Technology has disrupted many aspects of traditional life. When you are sitting at dinner and…
Reports of suicides, missing bodies, sexual kompromat and emptied bank accounts as fake sangomas con…
A South African woman has been left with her head in her hands after she…