Singapore police have initiated investigations into 30 individuals suspected of engaging in illegal online gambling and misusing bank accounts. This follows a week-long operation conducted in late May aimed at addressing unlawful gambling and associated financial crimes. Authorities reported the identification or arrest of 21 men and nine women, aged between 17 and 79, on Thursday.
The Criminal Investigation Department’s Specialised Crime Branch spearheaded the probe from May 21 to May 29, freezing approximately S$19,000 (US$14,000) believed to be illicit profits linked to these activities.
Among the suspects, five are accused of placing bets with unlicensed gambling operators, allegedly routing funds through bank accounts held by criminal syndicates. They are being investigated under Section 20 of the Gambling Control Act 2022, which could impose fines of up to S$10,000 and/or imprisonment for up to six months for interacting with illegal gambling providers.
The remaining 25 individuals are suspected of either selling or relinquishing control of their personal or corporate bank accounts to syndicates. Some reportedly misled banks into opening accounts, later providing access credentials to unknown third parties. These actions are subject to investigation for infringing multiple laws, including the Computer Misuse Act 1993, the Penal Code, and the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992.
Possible charges include:
– Unauthorised Access and Identity Disclosure: Offences under the Computer Misuse Act may result in penalties of up to three years in prison and/or fines for unauthorized access to national digital identity credentials (Singpass).
– Cheating: Under the Penal Code, offences involving fraud may carry sentences of up to three years’ imprisonment and/or fines.
– Money Laundering: The Confiscation of Benefits Act indicates that money laundering can incur up to 10 years’ imprisonment and fines up to S$500,000 (US$387,000).
As of the latest police statement, it is unclear if any formal charges have been filed against those involved.
In recent years, Singapore has reinforced its gambling regulations through the Gambling Control Act 2022, targeting the impact of offshore online gambling operators on local residents. Despite the government prohibiting Polymarket in 2024, there has been a noted increase in betting activity on the platform. Users attempting to access it were warned they were potentially violating the Gambling Regulatory Authority's policies, facing penalties of up to S$10,000, six months' imprisonment, or both.
The police have advised against transferring control of personal or corporate bank accounts and urged individuals to report any suspicious activities immediately. They highlighted the availability of support resources through the National Council on Problem Gambling for those facing gambling-related issues.
