Four men and two women were arrested for money laundering activities in an island-wide anti-scam enforcement operation conducted by the Police Intelligence Department and Commercial Affairs Department on Sept 13 and 14.
Another two women, aged 33 and 37, are being investigated, said police.
In June, police received information that criminal proceeds arising from investment scams amounting to more than $4.5 million were credited into several bank accounts in Singapore.
Preliminary investigations indicated that a 37-year-old man had allegedly placed online advertisements and acquired bank accounts with ATM cards and pre-registered prepaid SIM cards from unknown individuals, who were paid at least $800 for each bank account and $50 each for pre-registered prepaid SIM card.
He is also believed to have withdrawn the criminal proceeds from the bank accounts and was established to be the reseller of the fraudulently obtained bank accounts with ATM cards and pre-registered prepaid SIM cards to facilitate illicit activities.
Another two men, aged 38 and 39, had allegedly withdrawn money from the bank accounts and later converted the criminal proceeds into cryptocurrencies since January.
The two women, aged 20 and 51, are believed to have facilitated in the money laundering activities by withdrawing money from the bank accounts and later handing the criminal proceeds to the first man.
Another bank account holder, a 32-year-old man, had allegedly sold and relinquished his bank…
