BlockBeats news, on June 12th, according to 8world, Singapore police stated that their police anti fraud center, in cooperation with local cryptocurrency platform StraitsX, launched a law enforcement operation from June 13th to 30th to combat money laundering using cryptocurrency accounts.
The police stated that more than 200000 Singapore dollars were seized in this operation, and 49 people were involved in the investigation. The 35 men and 14 women under investigation are aged between 18 and 58. Preliminary investigation shows that the men and women involved in the case are suspected of opening and transferring their own cryptocurrency accounts or Singpass electronic government password accounts in order to obtain rewards ranging from SGD 400 to SGD 3000. They usually contact unknown individuals they have never met through communication platforms such as Telegram or WhatsApp, and provide account screenshots, personal information, and access permissions under their instructions. These accounts were subsequently used to launder the proceeds of fraud.
The police pointed out that cooperation with StraitsX has enhanced the ability to detect suspicious financial activities. The authorities have successfully identified and tracked multiple suspicious accounts by collaborating to introduce advanced technological solutions.
