SINGAPORE - Some 508 people are under investigation for suspected offences linked to over 2,600 illegal moneylending and scams involving about $14.3 million, following a 10-day enforcement operation. The suspects - 340 men and 168 women - are aged between 14 and 71, police said in a statement on Friday (July 14). Of them, 360 of them are being investigated...
SINGAPORE - Some 508 people are under investigation for suspected offences linked to over 2,600 illegal moneylending and scams involving about $14.3 million, following a 10-day enforcement operation.
Of them, 360 of them are being investigated by officers from the Bedok Division for their suspected involvement in scams, which are mainly related to e-commerce, investment, job, tech support, phishing, and money laundering offences involving transactions over $14 million. Of the 508, 57 people were arrested for their suspected involvement in unlicensed moneylending activities and cheating offences.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.
If they are found to offend again, they can be fined up to $300,000, with a jail term of up to seven years and up to 12 strokes of the cane.Commander of Bedok Police Division, Assistant Commissioner of Police Justin Wong, said: "This operation reflects the police's commitment to combat the scourge of scams and unlicensed moneylending.
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