8 arrested in Singapore for fraudulent SIM card registrations tied to shell companies
Eight people have been arrested in Singapore for their suspected roles in setting up shell companies and fraudulently registering corporate SIM cards, the police said on Saturday (27 Sept).
The arrests, involving seven men and one woman aged between 22 and 56, came after an island-wide enforcement operation conducted between 18 and 26 Sept.
Source: Singapore Police Force
Cash rewards for bulk SIM purchases
According to initial findings, the suspects were allegedly paid between S$500 and S$1,700 to register large batches of corporate SIM cards, in some cases numbering up to 480.
They are believed to have set up shell companies to purchase the SIM cards under their names, before passing them on to criminal syndicates.
Source: Singapore Police Force
Police noted that these syndicates often exploit local SIM cards and eSIMs as communication channels for scams, unlicensed moneylending, and vice.
Investigations into the eight individuals are still under way.
Police warn against providing fake SIM cards
Police warned that knowingly providing fraudulently registered SIM cards for criminal use carries penalties of up to three years’ jail, a fine of up to S$10,000, or both.
Company directors who fail to exercise due diligence may also face prosecution under the Companies Act, which provides for fines of up to S$5,000 or imprisonment of up to 12 months.
The police reiterated that they take SIM card misuse seriously and will act against individuals who resell cards, register them on behalf of others, or hold multiple lines without a legitimate reason.
Members of the public with information on such activities are encouraged to call the police hotline at 1800-255-0000 or submit details via i-Witness.
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Featured image adapted from the Singapore Police Force.
