The suspects were hauled up during a 10-day enforcement operation. - SINGAPORE POLICE FORCE
SINGAPORE: The police have arrested 41 people for various criminal offences as part of an investigation into 528 people linked to scams and loan sharking.
They are suspected to be involved in over 2,200 cases where transactions exceed S$10 million, the police said on July 11.
The suspects, aged between 14 and 72 years old, were hauled up during a 10-day enforcement operation conducted by Bedok Police Division between July 1 and 10.
Among them, 425 are suspected to be involved in e-commerce, investment, phishing, job and rental scams as well as money laundering offences, with transactions exceeding $10 million.
Another 103 people were probed for their alleged roles in loan scams and loan sharking activities involving over $120,000.
If convicted of cheating, offenders can be jailed for up to 10 years and fined.
If convicted of money laundering, offenders can be jailed for up to 10 years, fined up to $500,000, or both.
First-time offenders found guilty of engaging in or assisting an unlicensed moneylending business can be jailed for up to four years, fined between $30,000 and $300,000, and given up to six strokes of the cane.
Repeat offenders can be jailed for up to seven years, fined between $30,000 and $300,000, and given up to 12 strokes of the cane.
There were 46,563 scam cases reported in 2023, the highest number since the police started tracking such cases in 2016. This is 46.8 per cent higher than the 31,728 cases in 2022.
Scam victims in Singapore lost $651.8 million in 2023.
The police said they take a serious stance against any person who may be involved in scams and unlicensed moneylending activities.
To avoid being an accomplice in such crimes, the police reminded the public to reject seemingly attractive money-making opportunities that promise fast and easy payouts for the use of their Singpass and bank accounts.
This includes allowing their personal bank accounts to be used to receive and transfer money for others. Those who do so will be held accountable if they are found to be linked to such crimes.
Bedok Police Division commander Justin Wong noted that scams and unlicensed moneylending activities destroy lives.
“Through their irresponsible actions, these individuals commit crime and become the conduit for illegal activity,” he said. “Through operations like this one, we send a signal that such acts have no place in our community, and the police will do all that we can to bring these individuals to justice.” - The Straits Times/ANN
