Written Reply to Parliamentary Question on Average Duration Taken to Investigate a Scam-Related Case

Question:

Mr Saktiandi Supaat: To ask the Minister for Home Affairs (a) what is the average duration taken to investigate a scam-related case; (b) how are cases which involve freezing of bank accounts resolved and the freeze eventually released; and (c) on average for a scam case, what proportion of funds lost will typically be recovered.

Answer:

Mr K Shanmugam, Minister for Home Affairs and Minister for Law:

1.   The Police do not track the time they take to complete scam investigations. It depends on many factors, including the type of scam and how well the scammer covers his tracks. In cases where the scammer is based outside Singapore, which is the case for most scams here, investigations can take much longer. Every case could differ significantly.

2.   Bank accounts suspected to be involved in scam operations will be frozen by the Police, with monies seized as proceeds of crime. Upon completion of investigations, the investigation officer will apply for a disposal order from the courts to return the monies to person(s) entitled to them. The time taken for the monies to be returned to the victims will depend on the facts and circumstances of the case. For example, whether there are multiple claimants and whether the monies are still relevant for the purposes of investigation or trial or other court proceeding. The freeze on the bank accounts will be lifted upon completion of investigations.

3.   In June 2019, the Anti-Scam Centre (ASC) was set up with a focus on mitigating victims’ losses through interdiction of the proceeds of the scam. Since then, the ASC has received scam reports with losses amounting to more than $822 million. Of this, the ASC has recovered more than $200 million to date, or about 25% of the amount lost.

4.   Where the monies have been transferred outside Singapore, recovery is even more difficult. The ASC works with the Monetary Association of Singapore and financial institutions to swiftly freeze bank accounts suspected to be involved in scams, so as to enhance the chances of recovery.