Singapore police are investigating 49 individuals on suspicion of involvement in money laundering through cryptocurrency accounts. Among them, there are 35 males and 14 females, aged between 18 and 58, who were arrested in an operation from May 13 to 30. The operation, led by the Anti-Phishing Task Force in collaboration with StraitsX, has seized over 200,000 USD in assets.
The suspects were contacted via Telegram and WhatsApp, where they were asked to pay between 400 and 3,000 USD in exchange for access to cryptocurrency accounts or Singpass login information. Police warn that relinquishing control of accounts can lead to serious legal consequences and emphasize a zero-tolerance policy towards money laundering. Those who assist in this activity may face imprisonment of up to three years and fines of up to 50,000 USD.
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