Singaporean Police Launch Law Enforcement Operation Against "Transferring Crypto Accounts to Facilitate Money Laundering," 49 Individuals Under Investigation

BlockBeats News, June 12, according to a report by 8world, the Singapore police stated that its Anti-Scam Centre, in collaboration with local cryptocurrency platform StraitsX, conducted an enforcement operation last month from the 13th to the 30th to combat money laundering involving cryptocurrency accounts.

The police reported that the operation resulted in the seizure of over 200,000 SGD, and 49 individuals are under investigation. The individuals include 35 men and 14 women, aged between 18 and 58. Preliminary investigations suggest that the suspects allegedly opened and transferred their cryptocurrency accounts or Singpass (Singapore's digital government service) accounts in exchange for rewards ranging from 400 SGD to 3,000 SGD. They typically contacted unknown individuals through communication platforms like Telegram or WhatsApp and, under the instructions of these individuals, provided account screenshots, personal details, and access credentials. These accounts were then used for laundering proceeds from scams.

The police emphasized that the collaboration with StraitsX enhanced their capability to detect suspicious financial activities. By incorporating advanced technological solutions through this partnership, authorities were able to identify and trace multiple suspicious accounts successfully.