Officers from the Singapore Police Force’s Anti-Scam Command (ASCom) and the seven Police Land Divisions collaborated with StraitsX between 13 May 2025 and 30 May 2025 to conduct an island-wide operation targeting money laundering activities using cryptocurrency accounts. A total of 35 men and 14 women, aged between 18 and 58, are assisting with investigations for their suspected involvement in money laundering activities, and more than $200,000 have been seized.
Preliminary investigations revealed that these persons have allegedly opened and relinquished their cryptocurrency accounts or Singpass credentials for monetary gains ranging from $400 to $3,000. They were guided by unknown parties whom they had not met in person, typically via messaging platforms such as Telegram or WhatsApp. They were also instructed to provide screenshots, personal details, and access to their cryptocurrency accounts or Singpass, which were subsequently used to facilitate the laundering of scam proceeds.
The collaboration between ASCom and StraitsX, a licensed digital payment provider in Singapore, enhanced capabilities to detect suspicious financial activities. The implementation of advanced technology solutions through this partnership has strengthened the ability to identify potentially suspicious accounts and contributed to the detection of these suspicious accounts.
The offence of assisting another to retain benefits from criminal conduct in certain circumstances under Section 55A(1) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 carries a fine not exceeding $50,000 or to imprisonment for a term not exceeding 3 years or to both.
The Police take a serious stance against any person who may be involved in money laundering activities and will not hesitate to take action against those who commit such offences. To avoid being implicated in criminal activity, members of the public should always reject requests by others to use their bank and cryptocurrency accounts and wallets. They should also be wary of seemingly attractive money-making opportunities promising fast and easy pay-outs for the use of their bank or cryptocurrency accounts. Anyone who allows their personal bank accounts or cryptocurrency accounts to be used to receive and transfer money or cryptocurrency for others will be held accountable if these transactions are linked to crimes.
For more information on scams, members of the public can visit www.scamshield.gov.sg or call the ScamShield Helpline at 1799. Anyone with information on such scams may call the Police Hotline at 1800-255-0000 or submit information online at www.police.gov.sg/i-witness. All information will be kept strictly confidential.
SINGAPORE POLICE FORCE
12 June 2025 @ 12:20 PM