SINGAPORE: A total of 189 men and 99 women aged between 16 and 76 are being investigated by police for their alleged involvement as scammers or money grabbers in more than 1,000 scams in which victims lost at least 6.54 millions of dollars.

The police said in a statement on Saturday (Nov 16) that officers from the Department of Commercial Affairs and the seven land divisions of the Singapore Police Force conducted a two-week operation between Oct 31 and Nov 14.

The suspects are believed to be involved in more than 1,208 cases, mainly involving job scams, e-commerce scams, friend impersonation scams, investment scams, internet romance scams and fake buyer scams.

They are being investigated for allegedly cheating, money laundering or providing unlicensed payment services.

If convicted of cheating, people can be jailed for up to 10 years and fined. Those convicted of money laundering could be sentenced to up to 10 years in prison, fined up to $500,000, or both.

People convicted of operating a business for providing payment services without a license could be fined up to $125,000, jailed for up to three years, or both.

Scam victims in Singapore lost $385.6 million in the first half of 2024, with the number of cases rising 16.3 percent to a new high of 26,587, figures released in August showed.

Most cases involved victims being manipulated into transferring money to criminals.

E-commerce scams were the most commonly reported types, followed by job scams, phishing scams, investment scams and fake friend call scams.

Police said on November 16 that they are taking “a serious stance against anyone who may be involved in the scams and the perpetrators will be dealt with in accordance with the law”.

He also advised people to always decline requests from others to use their bank accounts or mobile lines as they will be held accountable if they are linked to crimes. – The Straits Times/ANN