SINGAPORE – The police have arrested 296 people for suspected involvement in more than 1,000 scams, where victims lost over $6.4 million.
The suspects, aged between 16 and 80, were involved as scammers or money mules, said the police on Friday (Nov 5) night.
The scams comprise mainly Internet love, e-commerce, government-official impersonation, job and loan types.
The 194 men and 102 women were arrested after officers conducted a two-week operation between Oct 22 and Nov 5.
The suspects are being investigated for cheating, money laundering or providing payment services without a licence.
Those found guilty of cheating can be jailed up to 10 years and fined.
Those found guilty of money laundering can be jailed up to 10 years, fined up to $500,000, or both.
Those found guilty of carrying on an unlicensed business of providing payment service can be fined up to $125,000, jailed up to three years, or both.
The police said:…