{"id":8153,"date":"2022-10-29T00:35:15","date_gmt":"2022-10-29T00:35:15","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=8153"},"modified":"2022-10-29T00:35:16","modified_gmt":"2022-10-29T00:35:16","slug":"singapore-police-received-631-cryptocurrency-scam-reports-in-2021-government-says","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=8153","title":{"rendered":"Singapore Police Received 631 Cryptocurrency Scam Reports in 2021, Government Says"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>The government of Singapore has revealed the number of crypto scams reported to the police in the past three years. \u201cThe vast majority of cryptocurrency scams are perpetrated by scammers based outside Singapore. As such, there is a limit to how much law enforcement agencies in Singapore can do,\u201d said Singapore\u2019s minister for home affairs.<\/strong><\/p>\n<h2>Singapore Government\u2019s Data on Cryptocurrency Scams<\/h2>\n<p>The Singaporean government has revealed the number of reports related to cryptocurrency scams the police received in the past three years.<\/p>\n<p>In a written reply to a parliamentary question about crypto scams in Singapore, published last week, Minister for Home Affairs and Minister for Law K. Shanmugam wrote:<\/p>\n<p>In 2019, the police received 125 reports related to cryptocurrency scams. This increased to 397 in 2020, and 631 in 2021.<\/p>\n<p>\u201cThe vast majority of cryptocurrency scams are perpetrated by scammers based outside Singapore. As such, there is a limit to how much law enforcement agencies in Singapore can do,\u201d Minister Shanmugam added, elaborating:<\/p>\n<p>Our ability to solve these cases will depend on the level of cooperation from overseas law enforcement agencies, as well as their ability to track down these scammers. Nonetheless, we have stepped up our investigation efforts.<\/p>\n<p>The Singapore Police Force established a cryptocurrency taskforce in 2018 \u201cto monitor the cryptocurrency landscape, develop and improve operational procedures in investigations and seizure of cryptocurrencies, and establish working relationships with overseas law enforcement agencies, industry professionals, and academic experts,\u201d the minister noted.<\/p>\n<p>The taskforce works closely with the Monetary Authority of Singapore (MAS), the country\u2019s central bank, which regulates entities that deal in or facilitate the exchange of cryptocurrencies.<\/p>\n<p>In conclusion, Minister Shanmugam stressed:<\/p>\n<p>The best defense, however, is a discerning public. To that end, we have stepped up public education efforts to educate the public on cryptocurrency-related scams.<\/p>\n<p><em><strong>What do you think about the comments by Minister Shanmugam? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Kevin Helms <\/p>\n<p class=\"article__body__author__info__about\">\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.<\/p>\n<p><i class=\"td-icon-font td-icon-mail-1\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/singapore-police-received-631-cryptocurrency-scam-reports-in-2021-government-says\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government of Singapore has revealed the number of crypto scams reported to the police in the past three years. \u201cThe vast majority of cryptocurrency scams are perpetrated by scammers based outside Singapore. As such, there is a limit to how much law enforcement agencies in Singapore can do,\u201d said Singapore\u2019s minister for home affairs. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8154,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-8153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8153"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8153\/revisions"}],"predecessor-version":[{"id":8155,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8153\/revisions\/8155"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/8154"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}