The Singapore police launched law enforcement actions against "transferring accounts to assist in Money Laundering", with 49 individuals involved under investigation.

According to BlockBeats news on June 12, reported by 8world, the Singapore police stated that their police force's anti-fraud center collaborated with the local encryption platform StraitsX to launch an enforcement action against money laundering using Crypto Assets accounts from the 13th to the 30th of last month. The police reported that over 200,000 Singapore dollars were seized, and 49 individuals are under investigation, with the 35 men and 14 women being aged between 18 and 58. Preliminary investigations indicate that the suspects allegedly opened and transferred their Crypto Assets accounts or electronic government password Singpass accounts in exchange for payments ranging from 400 to 3000 Singapore dollars. They typically contacted unknown individuals through communication platforms such as Telegram or WhatsApp, providing account screenshots, personal information, and access rights as directed by the other party. These accounts were then used to launder the proceeds of fraud. The police pointed out that the collaboration with StraitsX enhanced their ability to detect suspicious financial activities. Authorities successfully identified and tracked multiple suspicious accounts by introducing advanced technological solutions through this partnership.