189 Investment Scam Suspects Under Police Investigation in Singapore

The Singapore Police and the Singapore Commercial Affairs Department conducted operations on 189 suspected fraudsters and money mules in two weeks.

The 189 suspects, who are assisting in the investigation, include 138 men and 51 women, aged between 16 and 66.

Police believed the suspects may be connected to thousands of scam cases, most of which were investment scams. The cases have cost victims at least $6.65 million.

The police were investigating the suspects for crimes such as cheating, money laundering and providing unlicensed payment services. They were committed to cracking down on anyone involved in the scams and dealing with the criminals according to the law.

Providing unlicensed payment services in Singapore could face a fine of $155,000 or up to three years' imprisonment, or both.

Meanwhile, the police reminded the public to refuse others to use their bank accounts or phone numbers. The account and number holders would be held accountable if those were linked to crimes.