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A total of 201 men and 124 women, aged between 16 and 86, are assisting in investigations for their suspected involvement in scams as scammers or money mules, said police.
The suspects are believed to be involved in more than 697 cases of scams, comprising mainly fake friend call scams, Government and China Officials impersonation scams, e-commerce scams, phishing scams, investment scams, Internet love scams, and business email compromise scams, where victims reportedly lost over $9 million.
Officers from the Commercial Affairs Department and the seven Police Land Divisions conducted a two-week operation between Aug 19 and Sept 1.
The suspects are being investigated for the alleged offences of cheating, money laundering or providing payment services without a licence.
The offence of cheating carries an imprisonment term of up to 10 years and a fine.
The offence of money laundering carries an imprisonment term of up to 10 years, a fine of up to $500,000, or both.
The offence of carrying on a business to provide any type of payment service in Singapore without a licence carries a fine of up to $125,000, an imprisonment term of up to three years, or both.
To avoid being an accomplice to crimes, you should always reject requests by others to use your bank account or mobile lines as you will be held accountable if these are linked to crimes.