The Singaporean police said more than 110 suspicious bank accounts with over US$400,000 have been blocked by the United Overseas Bank (UOB) or seized by the police in a joint operation targeting money mules.
The Anti-Scam Centre (ASC) officers then worked with the bank to identify account holders whose accounts were suspected to have been used for money laundering activities, police announced Thursday.
The police also conducted island-wide raids and investigated 10 suspects, aged between 24 and 65, who may have relinquished their bank accounts to scammers.
Under the Singaporean law, the offense of assisting another to retain benefits of criminal conduct carries a jail term of up to three years, a fine of up to US$50,000, or both.
The Singaporean police said more than 110 suspicious bank accounts with over US$400,000 have been blocked by the United Overseas Bank (UOB) or seized by the police in a joint operation targeting money mules.
The Anti-Scam Centre (ASC) officers then worked with the bank to identify account holders whose accounts were suspected to have been used for money laundering activities, police announced Thursday.
The police also conducted island-wide raids and investigated 10 suspects, aged between 24 and 65, who may have relinquished their bank accounts to scammers.
Under the Singaporean law, the offense of assisting another to retain benefits of criminal conduct carries a jail term of up to three years, a fine of up to US$50,000, or both.
