Man to face charges for alleged involvement in investment scam by collecting cash for syndicate
A 23-year-old Malaysian man will be charged in Singapore on 28 May for his suspected involvement in an investment scam and facilitating a scam syndicate to collect cash.
Victim duped into transferring thousands
According to the Singapore Police Force (SPF)’s statement, the case began on 9 May, when a victim discovered an online trading link on Instagram.
She was invited to join a WhatsApp group, where scammers instructed her to download an application and create an investment account.
The victim was then told to transfer S$1,000 and S$1,999 for her first two investments.
She later handed over S$5,000 in cash to an unknown individual for a third investment, believing the money would top up her online account.
It was only when her withdrawal request was blocked, and she was asked to top up more funds just to access her “investment”, that the victim realised it was a scam.
Suspect allegedly tasked with collecting over S$28,000
Police investigations revealed that the man attempted to collect more than S$28,000 in cash from the same victim.
Source:
He was allegedly tasked by unknown members of a transnational scam syndicate to collect funds and hand them to others in Singapore.
During the arrest operation on 26 May, officers from the Ang Mo Kio Police Division seized ten company staff passes and several company documents believed to be forged.
Faces up to 10 years’ in jail and fine of up to S$500,000
The man faces charges under Section 51(1)(a) and Section 51(5) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992, read with Sections 108B and 109 of the Penal Code 1871.
Conviction can result in up to 10 years’ imprisonment, a fine of up to S$500,000, or both.
Under the Facility Restriction Framework, individuals implicated in money mule offences may have their mobile lines and bank accounts restricted to block further scam operations.
This framework covers a broad spectrum, penalising those deemed at risk during active investigations, as well as individuals who have received warnings, paid composition fines, or faced court prosecution and conviction.
People urged to be wary when asked to make investments
Authorities reminded the public to exercise caution when asked to download applications or make investments.
People are advised never to transfer money or valuables to persons with an unknown identity.
To avoid facilitating collection, do not leave cash, luxury items, or other valuables unattended at any location.
Avoid sharing your device screen or revealing your login credentials to anyone under any circumstances.
Anyone with information can contact the Police Hotline at 1800-255-0000, submit online at www.police.gov.sg/i-witness, or call the ScamShield Helpline at 1799. All information will be kept strictly confidential.
Also read: 2 more M’sians arrested in S’pore for scams, bringing total arrests in 10 days to 5
2 more M’sians arrested in S’pore for scams, bringing total arrests in 10 days to 5
Have news you must share? Get in touch with us via email at news@mustsharenews.com.
Featured image adapted from Singapore Police Force (SPF) and MS News.
