Seven men aged between 28 and 53 have been arrested for suspected involvement in a transnational betting syndicate, the Singapore Police Force (SPF) announced on Monday (6 Oct).
The arrests came after a joint operation between the SPF, the United States Federal Bureau of Investigation (FBI), and Facebook’s Meta on Sunday (5 Oct).
Since March 2023, SPF has received multiple reports of victims being invited to open gambling accounts on an online platform.
Victims were asked to deposit money in exchange for gambling credits and could initially redeem winnings via bank transfers from anonymous bank accounts.
Source: Niek Doup on Unsplash, for illustrative purposes only
However, as gambling continued, they were unable to withdraw further winnings without depositing more money or purchasing more credits.
The SPF reported that several victims lost more than S$175,000 to the betting syndicate.
Early investigations by the SPF indicate that the betting syndicate operates overseas, targeting victims across Asia.
Information from the FBI and Meta helped SPF conduct further investigations, resulting in simultaneous raids across the island.
Source: Singapore Police Force
Arrests were made in Bukit Batok West, Pasir Ris, Hougang, and other locations, with seven men taken into custody.
Authorities seized 15 bank accounts, a luxury watch, cash, computers, phones, and SIM cards.
The total value of seized assets exceeded S$500,000.
Source: SPF
Four of the men were charged on 6 Oct under the Gambling Control Act 2022 for unlawful betting.
The remaining three are still under police investigation, which is ongoing.
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Featured image adapted from the SPF.