3 arrested, 22 probed for suspected involvement in scams, Latest Singapore News - The New Paper

3 arrested, 22 probed for suspected involvement in scams

This article is more than 12 months old

Three men suspected of carrying out scams have been arrested following a two-day island-wide operation that ended on Wednesday.

The suspects are aged between 20 and 50 years old, the police said in a statement on Friday.

The police also seized $189,000 in scam proceeds and rounded up another 15 men and seven women, aged between 26 and 65, to assist in investigations.

Preliminary investigations showed that those assisting in investigations had allegedly sold their bank accounts to scammers, or revealed their Singpass details to scam syndicates to create new bank accounts. They allegedly received as much as $700 for each bank account sold.

Some are also believed to have rented their bank accounts to scammers or assisted them with bank transfers and withdrawals.

The police said they noticed in March that Singpass credentials were being misused to open corporate bank accounts online. Investigations indicated that scam syndicates were using these accounts as conduits to receive funds from victims of investment and jobs scams.

The operation, which was conducted by officers from the Commercial Affairs Department and seven Land Divisions, had led to 30 bank accounts being frozen.

Police investigations are ongoing.

The police urged the public to reject “seemingly attractive money-making opportunities promising payouts” for the use of their Singpass or bank accounts, warning that those found that abet scammers would be held accountable.

The offence of cheating carries a jail term of up to 10 years and a fine, while those guilty of money laundering can be jailed up to 10 years, fined up to $500,000, or both.

The unauthorised disclosure of access codes is also an offence. It carries a fine of up to $10,000, or a jail term up to three years, or both.

For more information on scams, members of the public can visit www.scamalert.sg or call the anti-scam hotline at 1800-722-6688. Anyone with information on such scams may call the police hotline at 1800-255-0000 or submit information online at www.police.gov.sg/iwitness.