Singapore arrests money mules
Superintendent Ho Yenn Dar (L), assistant director of media relations of Singapore Police Force listens to questions from journalists on the international match-fixing scam at the Ministry of Home Affairs in Singapore February 6, 2013. Reuters

As many as 47 suspected online fraudsters have been arrested in a massive crackdown during January 26-28, Singapore police have said.

The suspects were involved in 145 cases of online scams amounting to more than S$132,000, Channel News Asia reported.

As many as 23 of the arrested are women and there are suspects as young as 16.

The report said that, according to the police the suspects were acting as "money mules", who received and transferred illegal funds on behalf of criminal syndicates.

Some of the fraudsters had offered to sell products online but swindled their customers by not delivering the goods.

In Singapore conviction for such offences will attract a jail term of 10 years and a fine of up to S$500,000.

"Police take a serious view against those who intentionally use the online marketplace to commit crimes and will not hesitate to prosecute them. Account holders who are aware that their accounts are being used to transfer proceeds of crime will also be taken to task for money laundering," Director of Commercial Affairs Department David Chew had said in June after a similar operation in which 34 money mules were arrested.