Monday, 01 Feb 2021 08:27 AM MYTSINGAPORE, Feb 1 — The number of fake gambling platform scam cases increased by more than 18 times between 2019 and 2020, while investment scams registered a 126 per cent spike in the same period, the Singapore Police Force said yesterday.
“During the three-day enforcement operation, officers from the Commercial Affairs Department, Criminal Investigation Department, the seven police land divisions and the banks conducted live intervention by analysing fund flow of scam victims,” said the police. The suspects, aged 17 to 59, are believed to have facilitated syndicates by opening bank accounts or transferring money for syndicates, said the police.Conmen in investment scams will claim to be financial professionals and “cultivate” victims on online dating platforms, before introducing these victims to investment websites or mobile apps, said the police.
Once larger amounts of money are deposited into the scammers’ accounts, they will become uncontactable. To place bets, victims are required to open a betting account with the platform and deposit money in a bank account, in exchange for betting credits and to cash out their winnings. If found guilty of cheating and dishonestly inducing a delivery of property, the suspects may be jailed for up to 10 years and fined.Victims liable