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A total of 186 men and 66 women, aged between 16 and 76, were arrested for their suspected involvement in various offences in a 16-day long enforcement operation.
The operation, which was led by Bedok Police Division, took place between Nov 23 and Dec 8.
The police said in a statement that 50 men and 19 women, aged between 16 and 68, are being investigated for their suspected involvement in e-commerce scams and money-laundering activities involving transactions exceeding $1.5 million.
In a separate case, 129 men and 45 women, aged between 18 and 76, are being investigated for their suspected involvement in loan scams and loanshark activities involving transactions exceeding $216,000.
The police added that among these suspects, 11 men and eight women, aged between 20 and 61, were arrested for offences under the Moneylenders Act.
Four men and two women, aged between 16 and 59, were also arrested for drug-related offences with the support of officers from the Central Narcotics Bureau (CNB).
Three men, aged between 24 and 42, were nabbed for other Penal Code offences, such as Criminal Intimidation and Theft.
Police investigations against all the suspects are ongoing.
"This operation reflects a commitment by Bedok Police Division to hold those who break our laws accountable, and to protect our residents from harm," said the Bedok Division's commander, Assistant Commissioner of Police Julius Lim.
"I would like to pay tribute to the intelligence community, the CNB, and dozens of investigators who worked tirelessly, under difficult conditions, to bring the offenders to justice.
"These officers care deeply about the safety and security of their neighbourhoods, and will continue to do their best to keep you safe during this year-end period.”
The offence of cheating carries a jail term of up to ten years, and a fine. The offence of money-laundering carries a jail term of up to ten years and a fine up to $500,000. The offence of criminal breach of trust carries a jail term of up to seven years, a fine, or both.
Under the Moneylenders Act (Revised Edition 2010), 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 jail term 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 jail term of up to seven years and mandatory caning of up to 12 strokes.
The police added that they will continue to take tough enforcement action against those involved in scams and unlicensed moneylending activities.
This would include taking action against those who open or give away their bank account/s to aid unlicensed moneylenders.
For more information on scams, members of the public can visit scamalert.sg or call the Anti-Scam Hotline at 1800-722-6688.
If members of the public suspect or know of anyone who could be involved in unlicensed moneylending activities, they can call the police at ‘999’ or the X-Ah Long hotline at 1800-924-5664.