Singapore Police Investigate Unlicensed Currency Exchange at Marina Bay Sands Casino

August 9, 2024 Asra Mairaj Asia Pacific, Casino & Gambling, World 0

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The Singapore Police Force (SPF) announced on September 6, 2024, that 17 men and seven women, aged between 27 and 58, are under investigation for their suspected involvement in unlicensed foreign currency exchange and remittance activities at the Marina Bay Sands (MBS) casino.

“Preliminary investigations revealed that the 24 persons in the casino were allegedly providing unlicensed services which included foreign currency exchanges, remittances, and buying or selling of casino chips to casino patrons,” stated the SPF.

A multi-agency enforcement operation was conducted on September 5th and 6th at the MBS casino, led by the Central Police Division and supported by officers from the Criminal Investigation Department, Commercial Affairs Department, and partners from MBS. During the operation, over S$190,000 worth of casino chips, cash, and an array of electronic devices were seized, reported Mothership.SG.

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“14 out of the 24 persons were arrested to further assist with police investigations and 13 of them were charged in court on September 7,” the SPF added.

Under Section 5 of the Payment Services Act 2019, individuals found guilty of carrying on a business providing payment services without a license may face a fine of up to S$125,000, imprisonment for up to three years, or both.

Additionally, under Regulation 9 of the Casino Control (Conduct of Gaming) Regulations 2009, any person who uses chips for any purpose other than the playing of games or tips in the casino premises shall be liable on conviction to a fine not exceeding S$10,000, imprisonment for a term not exceeding 12 months, or both.

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Asra Mairaj
About Asra Mairaj 184 Articles
Asra Mairaj is currently an intern at Panasiabiz. She stands ready to take the first step into her college life and start working for her aspiring career to become a famous and profound journalist. Asra has been previously associated with Sapne NGO and Journey App as a content writer. She tends to bring that experience and overwhelming dedication to make the idea of a knowledge centre space a reality here.

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