Singapore
authorities plan to restrict “scam mules” access to banking services
and phone lines as part of a comprehensive effort to disrupt criminal
networks that facilitated almost $460 million in losses during the first half
of 2025.
The
Singapore Police Force, Monetary Authority of Singapore (MAS), Infocomm
Media Development Authority, and Government Technology Agency announced today
(Tuesday) that they will implement the facility restriction framework
starting in October. The measures target individuals who sell their bank
accounts and phone lines to overseas scam syndicates.
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and Robinhood in London’s leading trading industry event!
Repeat Offenders Drive
Phone Line Abuse in Singapore
Nearly 15%
of telephone line subscribers who allowed their lines to be used for scams
this year are repeat mule offenders, with more than 11,000 lines
involved in criminal activities. Some individuals under investigation continued
applying for new telephone lines to sell to scammers, prompting
authorities to expand enforcement beyond traditional prosecution.
“The
success of scam syndicates hinges on local persons providing their
bank accounts, mobile lines and other essential facilities to the
syndicates,” the agencies said in their joint statement. Police
observed an increase in scam lines registered by corporate entities as
criminals adapt their tactics.
Local phone
numbers prove valuable to scammers because Singaporeans are more
likely to answer calls from domestic numbers rather than foreign ones.
Criminals also use these lines to register social media accounts for
reaching potential victims.
Interestingly,
typically “money mules” or “scam mules” are not aware they are
participating in a scam, and their data or activities are being used for money
laundering or fraud. US
regulators also warned about this type of fraudulent scheme last year.
However, in the case described by Singaporean agencies, it involves situations
where locals knowingly provide their information to criminals in exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
Read this Term for
financial compensation.
You may also like: Singapore’s New Rules Threaten Crypto Founders With Jail and $200K Fines
Banking Access Curbed for
Money Movement
The
restrictions will limit scam mules' access to digital banking
services, including internet banking and mobile banking, as well as
card-based transactions and ATM services. PayNow and internet banking have
become the primary methods for moving scam money out of
the country, making these services particularly attractive to
criminal networks.
Scammers
increasingly exploit cryptocurrency transactions for their anonymity
features when transferring stolen funds, according to the authorities.
Cryptocurrency losses accounted for 17.9% of total scam losses in the
first half of 2025, or about $81.6 million.
The specific
restrictions and their duration will be calibrated based on the risks
posed by each scam mule, taking into consideration basic financial and
communication needs. Appeals against the restrictions will be handled by
the Singapore Police Force.
Enforcement Targets
Multiple Offender Categories
The
framework applies to several groups: individuals who have been warned, fined,
prosecuted, or convicted of mule-related offenses, as well as those under
investigation who are assessed to pose continued risks of facilitating
scams. High-risk individuals include those who persist in applying for new
facilities while under investigation.
Beyond
access restrictions, authorities have issued sentencing advisory guidelines
recommending enhanced penalties for scam-related offenses. Money mules face
more severe consequences, including imprisonment, with penalties under existing
laws reaching up to 10 years in prison and fines up to $500,000.
The
restrictions on Singpass and Corppass accounts will be implemented in a
later phase. These digital identity systems are used for opening bank
accounts and accessing government services that criminals could exploit.
In other MAS-related stories: Singaporean Woman Sentenced in £3 Billion Bitcoin Fraud Case
Scam Losses Decline
But Remain Substantial
Despite the
$456.4 million in losses, Singapore saw a 12.6% decrease in scam
losses compared to the same period in 2024, when victims lost
approximately $522.4 million. The number of reported cases also fell 26%
to 19,665 from 26,563 in the previous year's first half.
Investment scams
caused the highest average losses at $53,915 per victim, while government
officials impersonation scams averaged $71,842 per case. Phishing
Phishing
Phishing is a form of cyber-attack in which fake websites, emails, and text messages are used to elicit personal data. The most common targets in this assault are passwords, private cryptocurrency keys, and credit card details.Phishers disguise themselves as reputable businesses and other types of entities. In certain instances, reputable government organizations or authorities are impersonated in order to collect this data.Because phishing relies on psychological manipulation rather than techno
Phishing is a form of cyber-attack in which fake websites, emails, and text messages are used to elicit personal data. The most common targets in this assault are passwords, private cryptocurrency keys, and credit card details.Phishers disguise themselves as reputable businesses and other types of entities. In certain instances, reputable government organizations or authorities are impersonated in order to collect this data.Because phishing relies on psychological manipulation rather than techno
Read this Term scams
topped the list by volume with 3,779 reported cases causing $30.4 million
in losses.
The
authorities emphasized that the scams situation continues to be of
serious concern despite the statistical improvements. The facility
restriction framework aims to disrupt criminal operations by
cutting off access to essential local services that enable
international scam syndicates to operate effectively in Singapore.
Singapore
authorities plan to restrict “scam mules” access to banking services
and phone lines as part of a comprehensive effort to disrupt criminal
networks that facilitated almost $460 million in losses during the first half
of 2025.
The
Singapore Police Force, Monetary Authority of Singapore (MAS), Infocomm
Media Development Authority, and Government Technology Agency announced today
(Tuesday) that they will implement the facility restriction framework
starting in October. The measures target individuals who sell their bank
accounts and phone lines to overseas scam syndicates.
Join IG, CMC,
and Robinhood in London’s leading trading industry event!
Repeat Offenders Drive
Phone Line Abuse in Singapore
Nearly 15%
of telephone line subscribers who allowed their lines to be used for scams
this year are repeat mule offenders, with more than 11,000 lines
involved in criminal activities. Some individuals under investigation continued
applying for new telephone lines to sell to scammers, prompting
authorities to expand enforcement beyond traditional prosecution.
“The
success of scam syndicates hinges on local persons providing their
bank accounts, mobile lines and other essential facilities to the
syndicates,” the agencies said in their joint statement. Police
observed an increase in scam lines registered by corporate entities as
criminals adapt their tactics.
Local phone
numbers prove valuable to scammers because Singaporeans are more
likely to answer calls from domestic numbers rather than foreign ones.
Criminals also use these lines to register social media accounts for
reaching potential victims.
Interestingly,
typically “money mules” or “scam mules” are not aware they are
participating in a scam, and their data or activities are being used for money
laundering or fraud. US
regulators also warned about this type of fraudulent scheme last year.
However, in the case described by Singaporean agencies, it involves situations
where locals knowingly provide their information to criminals in exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
Read this Term for
financial compensation.
You may also like: Singapore’s New Rules Threaten Crypto Founders With Jail and $200K Fines
Banking Access Curbed for
Money Movement
The
restrictions will limit scam mules' access to digital banking
services, including internet banking and mobile banking, as well as
card-based transactions and ATM services. PayNow and internet banking have
become the primary methods for moving scam money out of
the country, making these services particularly attractive to
criminal networks.
Scammers
increasingly exploit cryptocurrency transactions for their anonymity
features when transferring stolen funds, according to the authorities.
Cryptocurrency losses accounted for 17.9% of total scam losses in the
first half of 2025, or about $81.6 million.
The specific
restrictions and their duration will be calibrated based on the risks
posed by each scam mule, taking into consideration basic financial and
communication needs. Appeals against the restrictions will be handled by
the Singapore Police Force.
Enforcement Targets
Multiple Offender Categories
The
framework applies to several groups: individuals who have been warned, fined,
prosecuted, or convicted of mule-related offenses, as well as those under
investigation who are assessed to pose continued risks of facilitating
scams. High-risk individuals include those who persist in applying for new
facilities while under investigation.
Beyond
access restrictions, authorities have issued sentencing advisory guidelines
recommending enhanced penalties for scam-related offenses. Money mules face
more severe consequences, including imprisonment, with penalties under existing
laws reaching up to 10 years in prison and fines up to $500,000.
The
restrictions on Singpass and Corppass accounts will be implemented in a
later phase. These digital identity systems are used for opening bank
accounts and accessing government services that criminals could exploit.
In other MAS-related stories: Singaporean Woman Sentenced in £3 Billion Bitcoin Fraud Case
Scam Losses Decline
But Remain Substantial
Despite the
$456.4 million in losses, Singapore saw a 12.6% decrease in scam
losses compared to the same period in 2024, when victims lost
approximately $522.4 million. The number of reported cases also fell 26%
to 19,665 from 26,563 in the previous year's first half.
Investment scams
caused the highest average losses at $53,915 per victim, while government
officials impersonation scams averaged $71,842 per case. Phishing
Phishing
Phishing is a form of cyber-attack in which fake websites, emails, and text messages are used to elicit personal data. The most common targets in this assault are passwords, private cryptocurrency keys, and credit card details.Phishers disguise themselves as reputable businesses and other types of entities. In certain instances, reputable government organizations or authorities are impersonated in order to collect this data.Because phishing relies on psychological manipulation rather than techno
Phishing is a form of cyber-attack in which fake websites, emails, and text messages are used to elicit personal data. The most common targets in this assault are passwords, private cryptocurrency keys, and credit card details.Phishers disguise themselves as reputable businesses and other types of entities. In certain instances, reputable government organizations or authorities are impersonated in order to collect this data.Because phishing relies on psychological manipulation rather than techno
Read this Term scams
topped the list by volume with 3,779 reported cases causing $30.4 million
in losses.
The
authorities emphasized that the scams situation continues to be of
serious concern despite the statistical improvements. The facility
restriction framework aims to disrupt criminal operations by
cutting off access to essential local services that enable
international scam syndicates to operate effectively in Singapore.
