SINGAPORE: More than 300 suspected scammers and money mules are being investigated following a two-week operation, said the police on Thursday (Apr 25).
The 214 men and 95 women are aged between 16 and 75.
The 309 people are believed to be involved in more than 1,600 scam cases, comprising mainly investment scams, internet love scams, job scams, friend impersonation scams, and e-commerce scams.
Victims of these scams reportedly lost over S$9 million (US$6.6 million), said the police.
The suspects are being investigated for the alleged offences of cheating, money laundering or providing payment services without a licence.
Those convicted of cheating face up to 10 years' jail and a fine. The offence of money laundering carries a penalty of up to 10 years' jail, a fine of up to S$500,000, or both.
If found guilty of providing payment services without a licence, offenders face a fine of up to S$125,000, a jail term of up to three years, or both.
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The 214 men and 95 women are aged between 16 and 75.
The 309 people are believed to be involved in more than 1,600 scam cases, comprising mainly investment scams, internet love scams, job scams, friend impersonation scams, and e-commerce scams.
Victims of these scams reportedly lost over S$9 million (US$6.6 million), said the police.
The suspects are being investigated for the alleged offences of cheating, money laundering or providing payment services without a licence.
Those convicted of cheating face up to 10 years' jail and a fine. The offence of money laundering carries a penalty of up to 10 years' jail, a fine of up to S$500,000, or both.
If found guilty of providing payment services without a licence, offenders face a fine of up to S$125,000, a jail term of up to three years, or both.
Continue reading...