Following a ten-day enforcement operation conducted between 3 and 12 July 2023, officers from Bedok Division are investigating 340 men and 168 women, aged between 14 and 71, for their suspected involvement in more than 2,600 cases of scams and unlicensed moneylending activities.
Of the 508 subjects, 360 subjects are being investigated for their suspected involvement in scams, comprising mainly e-commerce scams, investment scams, job scams, tech support scams, phishing scams, and money laundering offences involving transactions exceeding $14 million. Another 148 subjects are being investigated for their suspected involvement in loan scams and loansharking activities involving transactions exceeding $300,000.
A total of 57 subjects were placed under arrest for their suspected involvement in unlicensed moneylending activities and cheating offences.
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 of up to 10 years and a fine up to $500,000.
Under the Moneylenders Act 2008, first time offenders found guilty of assisting in carrying on the business of unlicensed moneylending shall be liable to a fine not less than $30,000 and not more than $300,000, with mandatory imprisonment of up to four years and mandatory caning of up to six strokes. In the case of a second or subsequent conviction, offenders shall be liable to a fine of not less than $30,000 and not more than $300,000 with mandatory imprisonment of up to seven years and mandatory caning of up to 12 strokes.
Commander of Bedok Police Division, Assistant Commissioner of Police Justin Wong, said, “This operation reflects the Police’s commitment to combat the scourge of scams and unlicensed moneylending. We urge the public to stay vigilant and not let their banking facilities be used for criminal activities. I commend officers for their efforts in bringing the subjects to justice and to stop them from harming more victims.”
The Police take a serious view against those involved in unlawful acts such as scams and unlicensed moneylending activities. To avoid being an accomplice to crimes, members of the public should always reject requests by others to use your bank account, mobile lines or Singpass account as you will be held accountable if these are linked to crimes.
For more information on scams, members of the public can visit 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.
SINGAPORE POLICE FORCE
14 July 2023 @ 8:35 PM