Singapore: Police arrest 5 men in credit card fraud syndicate bust

60-year-old man arrested in Singapore

Singapore police have arrested five men for allegedly applying for credit cards using forged documents and made multiple transactions with these cards,

On Saturday, the police told Channel NewsAsia that they received reports from several banks from Mar 22 to Mar 29 about credit card applications supplemented with fake documents. The list of forged documents included salary slips and Notices of Assessment from the Inland Revenue Authority of Singapore (IRAS).

The officers from the Central Police Division investigated the matter and established the identities of the men. The police arrested the suspects from various locations between Mar 22 and Mar 27.

The police said that the men have reportedly made multiple transactions with the cards they obtained from the fraudulent applications. It is believed that these men are involved in more than 50 cases amounting to S$200,000 since October 2017.

The police investigations are still going on. Anyone convicted of cheating will face up to 10 years in jail and a fine.