Police have warned that threats of online scams are increasing and that the public should be vigilant against fraudsters.

Singapore police are investigating 313 men and women for allegedly being involved in money laundering, scams and unauthorised moneylending.

Authorities are probing 220 men and 93 women aged from 16 to 76, following a nine-day enforcement operation that ended on 14 August, police said in a statement at the weekend.

“At a time when more people are living their lives online, this operation reflects Bedok Police Division’s commitment to keep our residents safe online. The scale of the operation reminds us of the growing threat of online scams, and behoves us to exercise caution when using the internet,” Commander of Bedok Police Division, Assistant Commissioner of Police Julius Lim, said.

During the operation, five men and four women, aged between 16 and 56, were arrested for their suspected involvement in cases of cheating and criminal breach of trust. In addition, another 49 men and 29 women, aged between 19 and 72, are being investigated for their suspected involvement in e-commerce scams and money-laundering activities involving transactions exceeding S$1.24 million, police said. Some 166 men and 60 women, aged between 16 and 76, are being investigated for their suspected involvement in loan scams and “loanshark” activities involving transactions exceeding S$296,000. Amongst these, 34 men and 8 women were arrested for offences under the Moneylenders Act.

The offence of cheating under Section 420 of the Penal Code carries a jail term of up to 10 years, and a fine. The offence of money-laundering under the Corruption, Drug-Trafficking and Other Serious Crimes (Confiscation of Benefits) Act carries a jail term of up to 10 years and a fine up to S$500,000. The offence of criminal breach of trust under Section 406 of the Penal Code carries a jail term of up to seven years, a fine, or both.

Under the Moneylenders Act (Revised Edition 2010), first time offenders found guilty of assisting in carrying on the business of unlicensed moneylending shall be liable to a fine not less than S$30,000 and not more than S$300,000 with mandatory imprisonment of up to four years and mandatory caning of up to six strokes. In the case of a second or subsequent conviction, offenders shall be liable to a fine of not less than S$30,000 and not more than S$300,000 with mandatory imprisonment of up to seven years and mandatory caning of up to 12 strokes.