12-10-2024 (SINGAPORE) In a sweeping operation against fraud, Singapore authorities have arrested 35 individuals suspected of involvement in an elaborate scam impersonating bank and government officials. The operation, conducted by the Commercial Affairs Department, spanned a week from September 30 to October 8, resulting in the apprehension of 26 men and nine women, aged between 17 and 47.
The Singapore Police Force revealed on Friday that the suspects were allegedly part of a growing trend of government official impersonation scams that have plagued the city-state in recent months. The fraudsters are accused of duping victims into believing they were implicated in money laundering activities and coercing them to transfer funds into supposedly “safe” accounts for investigation purposes.
According to preliminary investigations, 34 of the arrested individuals are suspected of surrendering their bank accounts and online banking credentials in exchange for financial incentives, thereby facilitating the fraudulent operations. A 47-year-old man stands accused of directly receiving criminal proceeds into his personal bank account.
The scam typically begins with a call from someone claiming to represent major banks such as DBS, OCBC, UOB, or Standard Chartered. The caller alerts the victim to suspicious credit card applications or transactions in their name. Subsequently, the call is transferred to an accomplice posing as a police officer or a Monetary Authority representative, who then pressures the victim to cooperate with a fictitious investigation.
To enhance their credibility, some scammers have gone to elaborate lengths, including engaging in video chats while disguised, presenting falsified official documents, and using backdrop images of relevant institutions.
The Inter-Agency Sentencing Advisory Panel has recently issued guidelines recommending harsher sentences for individuals convicted of surrendering their personal bank or Singpass accounts for criminal activities, with a minimum starting point of six months’ imprisonment to serve as a deterrent.
As the investigation continues, an additional 22 individuals and a 16-year-old boy are assisting the police with their enquiries.
