SINGAPORE, May 13 (The Straits Times/ANN): The police are investigating 363 suspected scammers or money mules following a two-week operation.
A total of 261 men and 102 women, aged between 15 and 77, were rounded up in a police operation between April 28 and May 11.
They are assisting in investigations for their suspected involvement in more than 1,400 cases of scams where victims reportedly lost more than $6 million, the police said on Friday.
These scams include job scams, loan scams, e-commerce scams, Internet love scams, government official impersonation scams and investment scams.
The suspects are being investigated for cheating, money laundering or providing payment services without a licence.
The police urged people to reject any requests by others to use their bank accounts or mobile lines, as they will be held accountable if these are linked to crimes.
Cheating carries a jail term of up to 10 years and a fine, while money laundering carries a jail term of up to 10 years, a fine of up to $500,000, or both.
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.
Separately on Friday, the police also warned about the resurgence of a scam where a victim’s Singpass credentials are misused to create bank accounts for criminal purposes.
At least five victims have fallen to this scam since April.
Scammers impersonating bank employees or marketing companies acting on behalf of banks would contact victims to complete paid surveys on banking services.
After completing the surveys, scammers would ask victims to scan a Singpass QR code sent via messaging apps such as WhatsApp, claiming that it was part of the bank’s verification process to retrieve their survey results and enable payment for the completed surveys.
By scanning this Singpass QR code and authenticating it on their Singpass app, victims were tricked into authorising the use of MyInfo data to open bank accounts controlled by the scammers.
These bank accounts are then abused by scammers to commit crimes or launder the proceeds of crime.
Victims would find out they had been scammed only when notified of these transactions by their bank, or when they receive notifications in their Singpass app inbox that their personal details had been retrieved. — The Straits Times/ANN