In an island-wide anti-scam enforcement operation conducted from 30 to 31 May 2023, the Police arrested three men, aged between 20 and 50 for their suspected involvement in perpetrating scams. Another 15 men and seven women, aged between 26 and 65 are also assisting with investigations.
Since March 2023, the Police observed that Singpass credentials were misused to open corporate bank accounts online. Investigations indicated that these corporate account holders had relinquished their Singpass credentials and passwords to the scam syndicates to register companies and open corporate bank accounts, which served as conduits to receive funds from victims of investment scams and jobs scams.
During the two-day island-wide operation, officers from the Commercial Affairs Department and seven Land Division arrested three individuals and hauled up 22 others for investigations. 30 bank accounts were frozen for investigations, and more than $189,000 in scam proceeds were seized. Preliminary investigations revealed that they had allegedly facilitated criminal activities by selling their bank accounts and or relinquishing their Singpass credentials to scam syndicates to create new bank accounts, and in some cases, for returns as much as $700 for each bank account sold. Some are also believed to have rented their bank accounts to scammers or assisted them with bank transfers and withdrawals for monetary benefits. Police investigations are ongoing.
The offence of cheating under Section 420 of the Penal Code 1871 carries an imprisonment term of up to 10 years and a fine. The offence of money laundering under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 carries an imprisonment term not exceeding 10 years, a fine not exceeding $500,000, or both. The offence of unauthorized disclosure of access code under Section 8(1)(a) of the Computer Misuse Act carries a fine not exceeding $10,000 or to imprisonment for a term not exceeding 3 years or to both.
The Police take a serious view of these offences and will not hesitate to take action against individuals who may be involved in scams, and perpetrators will be dealt with in accordance with the law. To avoid being an accomplice to crime, members of the public should always reject seemingly attractive money-making opportunities promising pay-outs for the use of their Singpass account, bank accounts or allow their personal bank account to be used to receive and transfer money for others. The Police would like to remind members of the public that individuals will be held accountable if they are found to be linked to such crimes.
For more information on scams, members of the public can visit www.scamalert.sg or call the Anti-Scam Hotline at 1800-722-6688. Anyone with information on such scams may call the Police Hotline at 1800-255-0000 or submit information online at www.police.gov.sg/iwitness. All information will be kept strictly confidential.
Photographs of arrests made during island-wide operation against scammers from 30 May to 31 May 2023 ▼
SINGAPORE POLICE FORCE
02 June 2023 @ 7:40 PM