An operation at Singapore’s Marina Sands Bay saw 13 foreign nationals arrested and charged for allegedly providing illegal forex services inside the Singapore integrated resort.
According to Singaporean news media, the 13 suspects were all Chinese nationals, charged for “providing an illegal payment service.” Allegedly, the 13 suspects had illegally offered Singapore currency in exchange for Chinese yuan and vice versa.
It was reported that the police were also investigating 24 people, aged between 27 and 58, regarding the same case. The 17 men and seven women under investigation were allegedly providing unlicensed services, which also included foreign currency exchanges and remittances.
The operation was led by the Central Police Division and supported by officers from the Criminal Investigation Department, Commercial Affairs Department and Marina Bay Sands staff. More than SG$190,000 ($145,730.95) worth of casino chips and cash, plus several electronic devices were also seized during the operation.
If convicted, the 13 suspects could face fines up to SG$125,000, imprisonment for up to three years, or both.
Earlier in August, Singapore arrested two Chinese national former bankers in the city-state’s biggest money laundering case with links to scams and illegal online gambling.
