Fifth joint operation by police, crypto exchanges stops scam victims from losing over $17.4 million

The operation was also supported by customer information from the participating DPT service providers, which allowed officers to conduct targeted interventions over the phone and in person.

The crackdown extended beyond Singapore, with the Cyber Command team sharing blockchain intelligence with foreign law enforcement partners, including the United States Federal Bureau of Investigation, Australia’s New South Wales Police Force and the Canadian Anti-Fraud Centre.

This led to the identification of 32 foreign victims and allowed intervention efforts to be undertaken before further losses were incurred.

“The outcome underscores the importance of sustained public-private partnership as well as timely cross-border intelligence sharing in combating scams,” the police said, adding that they will continue to expand its network of partners and deepen cooperation with foreign law enforcement agencies.

In September, the fourth anti-scam operation by the police and several cryptocurrency exchanges prevented more than 355 victims from losing over $8.94 million.

For more information on scams, the public can visit www.scamshield.gov.sg or call the ScamShield Helpline at 1799.

Those who wish to report information on such scams can also call the police hotline on 1800-255-0000 or submit the details online at www.police.gov.sg/i-witness

All information will be kept strictly confidential, the police said.